The Government is Fast Becoming an Investment Bank. Is That What We Want (Part I)

Several years ago Ezra Klein wryly called the U.S. Government “an insurance conglomerate protected by a large, standing army.” If you look at the major budget drivers, he’s right. The federal government spends vast sums of money on insurance-like items like Medicare, Medicaid and Social Security, which make up more than 40 percent of the…
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