Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.
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If you like small government you need to work hard at having a strong national defense that is not so militant. Personal liberty is the purpose of government, to protect liberty - not to run your personal life, not to run the economy, and not to pretend that we can tell the world how they ought to live.