Legendary free market economist Milton Friedman believed that the greater threats to the United States were budget deficits and government spending rather than the national debt. Friedman explained that government spending creates budget deficits which then add to the total national debt.
Since neither Donald Trump or Hillary Clinton are talking about balancing the budget or really cutting spending, this video of Friedman discussing deficits is important for the presidential candidates to view. In fact, it’s imperative that all politicians spend just five minutes viewing the clip.
You can watch the video embedded below:
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