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Letter: Politicians have incentive to support deficit spending

Politicians have incentive to support deficit spending

Congress has voted to cut federal government taxes but has not voted to cut federal government spending.

To sustain federal government spending, Congress will print U.S. Treasury Bonds and sell these bonds to the public. This is called deficit spending, and the value of the outstanding bonds is called our federal debt.

Deficit spending provides an incentive for political campaign contributions from organizations that benefit from tax cuts and/or sustained spending.

For example, during year 2017 federal government deficit spending of $443 billion could have generated as much as $25 billion in political campaign contributions.

Based on this calculation, I believe that the politicians in Congress will continue to support federal government deficit spending.

Michael F. Patterson

Clarence Center

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