Friedrich von Hayek on Debt and Entitlement Spending

America’s national debt recently crossed the $13 trillion mark, and taxpayers are on the hook for several times that amount as government spending on social programs rises uncontrollably.

Congress would do well to heed F.A. Hayek’s warning in The Constitution of Liberty: “[D]emocracy will have to learn that it must pay for its own follies and that it cannot draw unlimited checks on the future to solve its present problems.”