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The unprecedented success of keynesianism is due to the fact that it provides an apparent justification for the 'deficit spending' policies of contemporary governments. it is the pseudo-philosophy of those who can think of nothing else than to dissipate the capital accumulated by previous generations.
-Ludwig Von Mises
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The Unprecedented Success Of Keynesianism Is Due

Ludwig Von Mises
The unprecedented success of keynesianism is due to the fact that it provides an apparent justification for the 'deficit spending' policies of contemporary governments. it is the pseudo-philosophy of those who can think of nothing else than to dissipate the capital accumulated by previous generations.
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Philosophy Thinking Government

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It is my view that what is important is cutting government spending, however spending is financed. a so-called deficit is a disguised and hidden form of taxation. the real burden on the public is what government spends (and mandates others to spend). as i have said repeatedly, i would rather have government spend one trillion dollars with a deficit of a half a trillion than have government spend two trillion dollars with no deficit.
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If you establish a democracy, you must in due time reap the fruits of a democracy. you will in due season have great impatience of public burdens, combined in due season with great increase of public expenditure. you will in due season have wars entered into from passion and not from reason; and you will in due season submit to peace ignominiously sought and ignominiously obtained, which will diminish your authority and perhaps endanger your independence. you will in due season find your property is less valuable, and your freedom less complete.
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Our practical choice is not between a tax-cut deficit and a budgetary surplus. it is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve -- and i believe this can be done -- a budget surplus. the first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.
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I understand deficit spending. i was born in deficit spending.
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The greatest threat facing america today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and federal reserve currency devaluation. it is this one-two punch - congress spending more than it can tax or borrow, and the fed printing money to make up the difference - that threatens to impoverish us by further destroying the value of our dollars.
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There is but one means available to improve the material conditions of mankind: to accelerate the growth of capital accumulated as against the growth in population. the greater the amount of capital invested per head of the worker, the more and better goods can be produced and consumed. this is what capitalism, the much abused profit system, has brought about and brings about daily anew. yet, most present-day governments and political parties are eager to destroy this system.
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