Originally Published: August 13, 2011 9:58 p.m.
In his recent column, my friend Tom Cantlon makes almost all the usual mistakes. Tom says, "The core cost of government is declining." That would be correct only if "the core cost" were defined in some magical gravity-defying way.
Government has more income and spends more money than ever before. But even with all those billions extracted from citizens, it still manages to spend even more. Which is, of course, exactly why the president wants to increase the debt ceiling.
Tom also advocates a "large increase in infrastructure projects." Tom ignores or misunderstands the government has no money (ability to pay for those projects) except what it first takes from productive citizens, or borrows. Every dollar paid to the government in taxes is a dollar not spent or saved more productively by those who earned it.
Tom even seems to suggest the government "create more money." That's called inflation, making everything more expensive in dollar terms, making all of us poorer. No thanks.