Opinion | Fiscal conservatism is dead; long live fiscal conservatism – By Cameron Smith (Las Vegas Sun) / Oct 2, 2022
Fiscal conservatism is dead.
Neither party is particularly interested in reining in spending, and pitching financial responsibility is about as sexy as steamed cauliflower. Between the political class and the Federal Reserve, most of us have been insulated from the consequences of ridiculous monetary and economic policies for more than a decade. Nobody really cares about government spending until it negatively affects their personal finances. Inflation has our attention, and the next lesson will be painful.
So how did we get here?
From 2012-2021, the federal government deficit spent $11,603,703,000. By comparison, the United States’ annual GDP in 2003 was $11,456,450,000. In one decade, our leaders managed to spend an entire American economy without paying for it.
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