Who pays for government spending?

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Government spending is ultimately paid for by taxpayers, either through current taxation or future debt repayments. According to in his discussion on the with , when the government incurs debt to finance its activities, the burden of repaying this debt falls on future taxpayers. This is because the government raises taxes to pay off debt, meaning higher taxes for future generations 1.

Additionally, even if government programs are justified or necessary, the cost does not disappear. It is borne by the people who will face higher taxes to service the debt 2. Boudreaux also highlights that funding government expenditures through current taxes might encourage better monitoring and quality of spending, as taxpayers would feel the immediate impact, thus potentially ensuring more responsible fiscal policies 3.

The Burden of National Debt

Don and Russ discuss the burden of national debt and how it falls on future taxpayers, regardless of the nationality of the bondholders. They explore the idea that even though the debt may be justified, it still poses a burden on future generations.
EconTalk
Don Boudreaux on Public Debt
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