The U.S. and many other governments spend more then it raises in taxation almost every year....

The U.S. and many other governments spend more then it raises in taxation almost every year. Since 1965 the federal government has balanced its budget 4 times (1969, 1998-2000). What are the moral aspects of this? What are the moral failings of the people (government and voters) that allow us to justify non-stop borrowing from the future to pay for current consumption? What should we do and why don't we do it?

Expert Solution

Rahul Sunny answered 8 months ago

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The U.S. and many other governments spend more then it raises in taxation almost every year....

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