by Daniel Lacalle
Mises.org
Allow me to remind you of a few uncomfortable truths.
Government spending is out of control in developed nations. Furthermore, no interventionist government wants to cut spending or balance the budget. Government spending empowers politicians, and reducing it means losing the grip on the economy.
Interventionist governments aren’t concerned about debts, deficits, or inflation. Inflation is a deliberate policy, and interventionist governments seek to nationalize the economy while imposing total control over productive sectors by issuing continuously devalued currencies.
Government spending is printing money. Politicians are happy to promise more free stuff by endlessly spending because they know they won’t pay for it and that it will make citizens and businesses more dependent and submissive to political power. No government can truly reduce debt without cutting spending.