Keep your eye on how much the government is spending, because that is the true tax.
- Milton Friedman - Topics: Tax, Government, Debt.
There is no such thing as an unbalanced federal budget. You are paying for it. If you're not paying for it in the form of explicit taxes, you're paying for it indirectly in the form of inflation or in the form of borrowing.
You have to keep government spending as a fraction of our income. If you do that, you can stop worrying about the debt.
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