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Government spending

Government spending

Are we ever going to reign in government spending and ever-increasing taxes on every aspect of our lives?
What will happen when interest rates return to more normal values of five to seven percent on our debt? Half of the taxes collected will go to servicing the debt, leaving little for social programs like Medicare.
Have a look at Venezuela to see what happens to a country when expenditures exceed revenue over many years.
We were there before COVID-19 which has only made it much worse.
Gordon Politeski,
Halfmoon Bay

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