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Reply to "Recommended Book on GDP and Government Debt for dummies"
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[quote=Anonymous]You cannot add to the national debt by tax cuts. Taxes are not the government's to begin with. People and organizations EARN income and then give some of it to the government to sustain it. But that money is not the government's to begin with. 70+% of federal spending are transfer payments (mandatory spending). So no, Iraq and Afghanistan weren't the biggest drivers. The biggest drivers of debt has been the welfare state. BTW, go look at the national debt clock (all government supplied numbers) to see where the money is going. We're spending more on interest on the national debt than defense. https://fiscaldata.treasury.gov/[/quote]
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