Libertarian Jackass

"Life is short, but truth works far and lives long; let us speak truth." -- Schopenhauer

Saturday, September 20, 2003

$44 trillion in unfunded government liabilities?

I tried explaining to my father the other day that the difference between the State government (California, for example) running up a $38 billion deficit and the Federal government going on a shopping spree and amass $44 trillion in unfunded government liabilities is a central bank (money creator). Nevertheless, my father seems to think our wonderful friends, the Democrats, are at fault! Too bad the Bush administration has expanded the Federal workforce to the largest level since 1990! Of course, my father insists this is only necessary because of the ridiculous programs previously created by the Democrats! (Also of note, see George Reisman's essay on the real level of government interventionism.)

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