“The charade that is fundamental to the political game—pretending that politicians have wealth that they can give away to favored constituencies rather than wealth that they can expropriate from one group of people for the enjoyment of others—does not work especially well if politicians cannot borrow money. If bills have to be paid in the present, then it becomes more difficult to pretend that the money comes from somewhere else, some magical pot of gold called the Treasury, rather than the result of rifling through the pockets of our families, friends, and neighbors. Deficit spending is in effect a form of taxation without representation, since the unborn taxpayers to be encumbered by those obligations by definition do not have a political voice, having not yet entered this vale of tears. (If that seems cowardly to you, that is because it is, objectively, a cowardly model of operation, taking candy from a baby, as they say.)”
Excerpt From: Kevin D. Williamson. “The End Is Near and It’s Going to Be Awesome.” HarperCollins, 2013-05-01. iBooks.
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