Mises Wire
Author:
Laurence M. Vance
Online Publish Date:
It wasn’t that long ago (1987) that the entire budget of the federal government was “only” a trillion dollars. It reached the $2 trillion mark in 2002, and didn’t exceed $3 trillion until 2009. Even after a long series of budget deficits, the national debt didn’t exceed $1 trillion dollars until 1982 and $5 trillion until 1996. The first budget