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'''Tax and spend''' is a phrase referring to the propensity of [[liberals]] to raise [[taxes]] in order to spend the revenue on [[government]] programs. It can be a form of [[income redistribution]]. To a liberal, tax and spend is the solution to every problem. Whether the economy is good, bad, or stagnant, liberals think taxes must be raised.
'''Tax and spend''' is a phrase referring to the propensity of [[liberals]] to raise [[taxes]] in order to spend the revenue on [[government]] programs. It can be a form of [[income redistribution]]. To a liberal, tax and spend is the solution to every problem. Whether the economy is good, bad, or stagnant, liberals think taxes must be raised.
== National debt of the United States ==
''See also:'' [[National debt of the United States]]
The [[National debt of the United States]] is the amount of [[money]] the [[United States]] [[Federal government]] owes various creditors due to [[deficit spending]].
As far as the national debt of the United States, according to noted business school Wharton School of the University of Pennsylvania, "As of September 30, 2023, the federal “debt held by the public” (herein, “debt”) stood at $26.3 trillion, or about 98 percent of projected [[GDP]]."<ref>[https://budgetmodel.wharton.upenn.edu/issues/2023/10/6/when-does-federal-debt-reach-unsustainable-levels#:~:text=As%20of%20September%2030%2C%202023,98%20percent%20of%20projected%20GDP. WHEN DOES FEDERAL DEBT REACH UNSUSTAINABLE LEVELS?], Penn Wharton School of Business at the University of Pennsylvania]</ref>
== See also ==
== See also ==
*[[Fiscal conservatism]]
*[[Fiscal conservatism]]