Why the US debt ceiling crisis is an opportunity in disguise

Source: PanAm Post
by John Tamny

“When politicians spend they are expropriating precious resources (physical and human) that, if left alone, would be matched with entrepreneurs and businesses on the way to major growth within existing businesses, along with the creation of countless new ones. In short, when politicians promise to spend they’re actually promising to make it more difficult for private-sector companies to expand, and in the process create work opportunities. … readers would be wise to contemplate just how much better off we’d all be if Washington hadn’t been such a sizable allocator of our precious wealth over the decades. The advances we never experienced thanks to experiments never pursued should boggle our minds, and also anger us. So much progress, so many cures, so many amazing work opportunities never realized, all thanks to Washington’s endless desire to spend the wealth that is always and everywhere created in the private sector. Which brings us to the latest discussion of the so-called federal ‘debt-ceiling.'” (08/28/17)