A new video released today by the Center for Freedom and Prosperity Foundation (CF&P) discusses the exploding levels of deficits and debt being generated in Washington. In this CF&P Foundation video entitled, “Deficits are Bad, but the Real Problem is Spending,” Dan Mitchell of the Cato Institute explains that huge deficits and skyrocketing debt are rightly causing worry, but these are merely symptoms of the real problem of excessive government spending.

Huge deficits and skyrocketing debt levels are creating considerable worry. This Center for Freedom and Prosperity video explains that that government borrowing is excessive – and will get worse in coming decades. But this mini-documentary explains that deficits and debt are merely the symptoms, and a rising burden of government spending is the real problem.

The proposals on Capitol Hill will make government more expensive and increase deficits. Government programs almost always cost more than the preliminary estimates, and projections for healthcare spending have been notoriously inaccurate. Moreover, tax increases will not collect as much revenue as politicians want because of “Laffer Curve” effects. Last but not least, the promised spending restraint is a farce. If congressional forecasts are modified to be more realistic, deficits and debt will climb by at least $600 billion – and perhaps more than $850 billion – over the next 10 years.