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Public Debt

Money or credit owed by a central (or state or local) government to creditors foreign or domestic. The size of the public debt reflects how much of public spending is borrowed. Since government revenue comes mainly from taxation, public debt translates into future taxation.

 

Antony Davies - What are the Dangers of Too Much Debt (LearnLiberty.org)

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The Lowdown on Crude Keynesianism

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As the economy goes south, we hear calls for a "second stimulus," most prominently from Paul Krugman, the Nobel-winning economist and New York Times columnist.

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Government Debt Hits $9.13 Trillion

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"Like a ticking time bomb, the national debt is an explosion waiting to happen. It's expanding by about $1.4 billion a day -- or nearly $1 million a minute. What's that mean to you? It means almost $30,000 in debt for each man, woman, child and infant in the United States." (USA Today, Tuesday)

You mean we don't owe it to ourselves?

FEE Timely Classic
"A $5 Trillion National Debt" by Hans F. Sennholz

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April 2014

Around the world, people are struggling to throw off authoritarianism, with deeply mixed results. From Egypt to Venezuela, determined people build networks to overthrow their regimes, but as yet we have not learned to live without Leviathan. In this issue, Michael Malice and Gary Dudney discuss their glimpses inside totalitarian regimes, while Sarah Skwire and Michael Nolan look at how totalitarian regimes grind down the individual--and how individuals fight back. Plus, Jeffrey Tucker identifies a strain in libertarianism that, left unchecked, could reduce even our vibrant movement to something that is analogous to the grim aesthetic of architectural brutalism. The struggle for our lives and freedom is a struggle for beauty; it begins inside each of us.
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