“Keep your eye on one thing and one thing only: how much government is spending.
Because that’s the true tax. There is no such thing as an unbalanced federal budget. You’re paying for it. If you’re not paying for it in the form of explicit taxes, you’re paying for it indirectly in the form of inflation or in the form of borrowing.
The real problem is to hold down government spending as a fraction of our income. If you do that, you can stop worrying about the deficit.”
MILTON FRIEDMAN
