Quote from piezoe:
I'm not one to favor spending on wasting assets -- I drive an 18 year old truck paid for many years ago. I have no problem with assuming debt at historically low interest rates well below the actual inflation rate, to pay for long range investments. If fact the U.S. is making a mistake not to borrow more now to spend on education, infrastructure, and research. But cuts in spending on wasting assets and areas of great inefficiency, i.e., "defense", are always a good idea. If we borrow heavily now at negative real interest rates, our creditors will end up paying us to use their money!
There are still some lunatics around who think it is possible to maintain a commodity (gold) backed currency. But of course, that's no longer possible. Some of these same lunatics think governments should operate on a cash basis, and never borrow -- the same lunatics clamor for a balanced budget amendment. These folks will continue to be ignored, just as we ignore those who think dental fillings cause mental retardation. These nuts will always be with us, but fortunately they will always be a small minority.
I am not concerned about the size of government, I am concerned about its efficiency, quality, and non-incursion on personal liberty. I believe if you focus on these aspects of government you will automatically arrive at an appropriate size.