“The nominal budget is a poor indicator of the impact of government outlays and revenues.”
William Vickrey
Tags: Budget | Government | Impact | Indicator | Nominal | Poor | Revenues
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William Vickrey
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The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt.
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Nearly all educational expenditure should be considered a capital outlay, whether it provides a future return in the form of enhanced taxable income or in terms of an enhanced quality of life.
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