Executive Summary Attention has focused recently on the explosion of federal borrowing to meet the demands of economic "stimulus," housing market stabilization, and the financial sector crisis. However, even if the United States had been fortunate enough to avoid these crises, the… Read more
Attention has focused recently on the explosion of federal borrowing to meet the demands of economic "stimulus," market stabilization, and the financial sector crisis. However, even if the United States had been fortunate enough to avoid these crises, the federal government would still face an unsustainable fiscal course. The most current long-term projections of… Read more
Taxes serve no necessity other than to finance government activities. Regrettably, policymakers often make the mistake of viewing taxes as only funds available for allocation among competing programs. In doing so, they ignore the dramatic effects of incentives created by taxes and the important influences of… Read more
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