Debts, Deficits, and Spending Cuts

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Uploaded by on May 24, 2011

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.

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Top Comments

  • Wow, a Harvard guy critical of D.C? He must be the only one there.

  • I like Dr. Miron. He doesn't sugar-coat anything he says so it's all really easy to follow.

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  • deficit is not the difference between how much we spend and how much we earn. Slave speak. It is the difference between how much THEY spend and how mucht THEY steal.

  • Good stuff!

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