The moral element to the debt debate

In his Freeman column, Sheldon Richman argues that failing to raise the federal debt ceiling won’t be a calamity, but adds an important consideration as to which claimants ought to be paid first. He argues that people who have been victimized by the government, such as Medicare and Social Security claimants, should have priority over people who willingly lent money to the government, knowing that repayment would necessarily have to come from confiscated money (i.e., taxes).

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