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    Mitchell’s Golden Rule

    Mitchell’s Golden Rule is

    Good fiscal policy exists when the private sector grows faster than the public sector, while fiscal ruin is inevitable if government spending grows faster than the productive part of the economy.
    Seems obvious given that revenues come from the private sector.

    Outspending growth is unsustainable.



    From Six Sobering Charts about America’s Grim Future from CBO’s New Report on the Long-Run Fiscal Outlook.

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