Budget Deficits Are Worse Than You May Think

Government spending is often more than a waste of money.

                       

Excess spending that produces budgetary debt causes even deeper recessions than we would have. In fact, I have repeatedly reported that so-called stimulus funds have actually been a political slush fund, doled out to “friendly” recipients. And that independent study has shown actual overall job losses while the “stimulus” was applied to mainly help certain states balance their bloated budgets.

                       

Remember the Soviet Union with its periodic Five Year Plan stimulus efforts and their notable lack of success?

                       

But budget overspending will do to us in the future what it is doing to Greece and several other European countries. (See the Earl J Weinreb NewsHole® comments and @BusinessNewshole tweets.)