Almost every politician and economist calls for cutting the pie into smaller and smaller pieces to convince people they are getting a free lunch. But it is the same pie so whether you cut it into 6,8,19 or 300,000 pieces it is just an illusion politicians use to get elected. After the government takes out their slice or slices the taxpayer always ends up with less. In this light hearted look Mike Maloney looks at the free lunch, more pieces, lie politicians try to sell us every day. There is no such thing as a free lunch. Whether it is you paying through taxes, some other guy paying or passing on the cost to your children someone has to pay.
(Disclaimer: Not all politicians lie all the time – just enough to get elected and reelected again and again)
In the past, through the strength of the US dollar as reserve currency we were able to shift the debt to foreign countries who would buy up our debt. With alternates to the dollar gaining strength the dollars status as a reserve currency is increasingly being challenged. Foreign countries are seeking alternatives as our countries politicians telegraph their desire to avoid cleaning up the mess they created or shoulder any responsibility for it.
I think it is clear to most people and they understand, from their own experience what “there is no free lunch” means. But when you ask some economists what does an economist mean when they say there s no such thing as a free lunch the answer is hazy. You seem to have entered the domain of doublespeak and common sense seems to have been left far behind.
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