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Debts, Deficits, and Spending Cuts

Dr. Jeffrey Miron at Harvard explains America's debt situation, which is projected to worsen in the coming years. In his estimation, an increase in taxes will only make the situation worse, as it will reduce productivity. Therefore, government spending must be cut. If not, America will be bankrupt and default on its debt. Watch more videos: http://lrnlbty.co/y5tTcY
Length: 02:35

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