From 1960 to 1973, the U.S. economy grew by an average of 4.3 percent per year with a government share of 30 percent of GDP.
Long after today’s hot-button political controversies fade into obscurity, our country will face the consequences of how we answer a major question that divides the political parties: Are we to have a larger government providing more services from higher taxes, or a smaller government providing less services with fewer taxes?
Currently, the movement to expand government, inaccurately self-described as socialism, promotes a platform of government medicine, free college, generous welfare, strict regulation, and high taxes readily recognizable in Europe as social democratic policies.
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