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With a couple of trillion dollars of income each year to spend – and it does plus more – it is easy to forget that our GovCo does not create wealth by spending this money.
For those who did not take economics, here is a fact, whatever the government spends it must first take from someone by some means.
The brilliant economists Jay Carney, speaking for President Barack Obama, just the other day said that unemployment checks were good for the country because they create wealth.
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