Debts, Deficits, and Spending Cuts

Dr. Jeffrey Miron at Harvard explains America’s debt situation, which is projected to worsen in the coming years. In his estimation, an increase in taxes will only make the situation worse, as it will reduce productivity. Therefore, government spending must be cut. If not, America will be bankrupt and default on its debt.

2 Comments

  1. citizen1111

    I don’t think anyone of any political persuasion would disagree with what Professor Miron says in this video. 

  2. GreedyCapitalistPig

    I have a theory that Obama is intentionally running up massive debts to make the next president (almost certainly a GOPer) will have an impossible decision to face: maintain the status quo and default on the debt, or cut spending and make GOPers look like heartless cutthroats. Good strategy for Democrats, bad strategy for the world. Hopefully this configuration of D president and R house/senate will prove as useful as it was last time with Clinton. But I’m not holding my breath.

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