Why Government Deficits Prove Dangerous

                    

You can be certain that government deficits will spell disaster. For taxpayers and even for those who don’t pay taxes. And for anyone who worries about the cost of living.

                       

That debt of today is being financed at very low interest cost. But those costs will easily double and triple. Long term rates can conceivably reach 18% or so from about 3% right now,

                       

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

                       

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. Yes, if taxes don’t foot the bill, a worthless, inflated dollar will. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)