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VMariaS [17]
3 years ago
7

What's the name given to the government practice of borrowing money to spend more than is collected in taxes

History
2 answers:
Marrrta [24]3 years ago
7 0

Deficit spending

In fiscal 2017, the US government's deficit spending was $668 billion, which was $82 billion more than deficit spending had been in 2016.  We're on pace for an even bigger increase in 2018.  Deficit spending for the first half of fiscal 2018 was $598 billion, and the Treasury Department expects to have to borrow over $700 billion for the second half of the fiscal year.

mihalych1998 [28]3 years ago
4 0

The answer is deficit spending.  It is said that it is usually done to fuel the economy in times of recession.  To do so, one must be careful that it does not lead to a permanent deficit.  There are some who are  against this because they believe it to be a bad policy.

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Both English philosophers believed there is a "social contract" -- that governments are formed by the will of the people.  But their theories on why people want to live under governments were very different.

Thomas Hobbes published his political theory in <em>Leviathan </em> in 1651, following the chaos and destruction of the English Civil War.  He saw human beings as naturally suspicious of one another, in competition with each other, and violent toward one another as a result.  Forming a government meant giving up personal liberty, but gaining security against what would otherwise be a situation of every person at war with every other person.

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In teaching the difference between Hobbes and Locke, I've often put it this way.  If society were playground basketball, Hobbes believed you must have a referee who sets and enforces rules, or else the players will eventually get into heated arguments and bloody fights with one another, because people get nasty in competition that way.   Locke believed you could have an enjoyable game of playground basketball without a referee, but a referee makes the game better because then any disputes that come up between players have a fair way of being resolved.    Of course, Hobbes and Locke never actually wrote about basketball -- a game not invented until 1891 in America by James Naismith.  But it's just an illustration I've used to try to show the difference of ideas between Hobbes and Locke.   :-)

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