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A Spending Quiz from the 'Rebel Economist'

A former Heritage Foundation colleague has returned to youtube.com with a video asking taxpayers whether examples of government waste are true or false.

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The video is very well done, but I feel compelled to make one additional observation. Pork-barrel spending is outrageous, and examples of government waste are useful to educate voters about profligacy in Washington, but all government spending has negative effects on the economy.

Regardless of whether it is a corrupt earmark or a squeaky-clean appropriation, all spending must be financed by taxes, debt, or printing money – and all these options are bad for economic performance. Here’s a video that gives the theoretical explanation of why govenrment spending harms economic performance, and here’s a follow-up video providing empirical evidence about the damaging impact of too much government.

By the way, Michelle’s first video also used the man-on-the-street theme, asking people during the stimulus debate whether they would rather keep more of their income instead of having politicians increase the burden of government spending. It’s also worth watching and contemplating how much better off we would be if the politicians had listened to her message.


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