Ongoing Government Deficits Are Worse Than You May Think

Most American voters appear to think differently but you can be certain that government deficits will spell disaster. For taxpayers and even for those who don’t pay taxes. In fact, for anyone who worries about the cost of living.

Government spending debts can be borrowed. That debt of today, however, is being financed at very low interest cost. Those costs will easily double and triple. Long term rates can conceivably reach 18% or so from under 3% right now,

So we are looking at astronomical debt, with poor prospects of an economy expanding where it can accommodate that debt.

The public will eventually see that today’s spending is only a down payment on future costs, to be paid by heavy taxes and a more worthless dollar. For if taxes don’t foot the bill, a worthless, inflated dollar will.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole tweets.)