It’s the Spending, Stupid

In this new video (just under 3 minutes in length) made by the Learn Liberty project of the Institute for Humane Studies, economist Antony Davies breaks down the national debt and makes the case that the debt is the result of a spending, not a revenue, problem. Davies clearly makes the case, presents the data, and as an added bonus adds in a quick jab at the absurd notion that entrusting the healthcare industry to the government will somehow save us money.

I have presented a similar case examining spending trends here in NC, in which – among other things – I found that North Carolina per capita state spending climbed by a dramatic 80% in the last three decades – even after adjusting for inflation. Or put another way, the cost of state government to NC citizens has increased nearly five-fold in the last thirty years – close to twice the overall cost of living increase during  that time.