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Waelti: Mistimed debate over government spending
John Waelti
For the current fiscal year the federal government has racked up more expenditures than revenues it will take in. For this, politicians, mainly Republican, are acting as if the nation’s end is nigh due to “out of control debt.” Their anxiety is misplaced; federal spending exceeding income is the usual case. The last time the federal government’s revenues exceeded expenditures was during the Clinton administration.