Mises Daily
Author:
Tibor R. Machan
Online Publish Date:
Budget crises—at the federal, state, county and municipal levels of government—are routine these days. Although there may be one or two years of surpluses, in most regions they are followed by many years of deficits. If governments were judged by the standards of private firms, most of them would be bankrupt. However, because they can use the tax