Mises Daily
Author:
Michael Pollaro
Online Publish Date:
Bank bailouts, homeowner bailouts, auto-industry bailouts, and now massive stimulus packages; the federal government spending list goes on and on. Goldman Sachs projects the federal deficit for this fiscal year to be as high as $2.5 trillion. That’s 5.5 times the fiscal 2007 federal deficit and 1.5 times gross US savings. A $2.5 trillion deficit