Amazon.com Review
Debts and Deficits condemns the forced transfer of personal wealth under the welfare system. A forceful declaration for fiscal responsibility by government with remarkably accurate predictions, should fiscal irresponsi- bility continue. In 1972, when the federal debt was less than $450 billion, Dr. Sennholz published, and the Congressional Record recorded, his projection of federal deficits and debts. At that time, he predicted a 1993 debt of $4 trillion, and the actual figure was $4.411 trillion! Surely, no government economist could see 20 years into the future so clearly and accurately! Well known for his stock market analyses, Dr. Sennholz anticipated early in 1987 the 500-point crash of October 19, 1987.
