In 2009, President Barack Obama and Congress enacted a budget that included increases in spending for the

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In 2009, President Barack Obama and Congress enacted a budget that included increases in spending for the war in Iraq and national defense, as well as huge increases in welfare programs, education, and many other programs. The budget expenditures exceeded the revenues by over a trillion dollars. The argument was that ‘‘we need these things,’’ and therefore there is no limit to what the government should provide. Is there a limit? What concept is ignored by those politicians who claim that there is no limit to what the government should provide?

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Economics

ISBN: 9781032046723

9th Edition

Authors: William Boyes, Michael Melvin

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