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Credit Limit Made Simple

From Tim Andrews on Monday, December 14, 2009 5:21 PM
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The Heritage Foundation has put together this great clip explaining, in plain English, just what exactly credit is proposing to do by raising the credit limit by another $1.1 trillion:

You wouldn't run your home or community this way - why would you run a country?

Well worth a watch.

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Comments

That's a good video--stuffmadesimple.com has good stuff, and do a good job of explaining things simply. Kudos to Heritage for this one. It's important, too, however, to remember that tax-financed spending diverts money away from investment as much as deficit-financed spending. As Milton Friedman said, we'd be better off with a $1 Trillion budget, and $300 billion deficit, than a $2 Trillion budget that is entirely paid for by taxes.
>> Jeffrey Hosten Tuesday, December 15, 2009 11:28 AM Report Comment

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