November 14, 2010
– Comments (2)
US Citizens, long-term.
US Citizens, short and long term.
Short term because we may be taxed less (or there may be less inflation stealth tax).
Long term because every dollar they spend is spent less efficiently than if the original producer spent it.
Congress benefits from deficit spending. And whoever their friends are who are the short-term beneficiaries, but NOT Americans in general.
Economics In One Lesson: Look at the effects (of any policy) on all groups of people and long term, not just short term for a few people.
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