Libertarians and conservatives are skeptical of the government’s ability to do anything well. But there’s one thing the government excels at producing: debt. Granted, this isn’t a good thing, but we must nevertheless recognize the government’s skill at it. And just when you think it can’t outdo itself, our government surprises you with an extra production of debt and deficit, just like that.
Case in point: the new Congressional Budget Office’s budget and economic outlook for 2017 to 2027. The main conclusion is that the government continues to spend more money—faster and above and beyond the revenue it collects. In other words, our debt is growing big-time, writes Veronique de Rugy.