Monday, October 14, 2013
Government Finance 101 With CWRU Prof Bill Mahnic
Bill Mahnic, Associate Professor of Banking and Finance at the Case Western Reserve University Weatherhead School of Management, stands squarely on the side of fiscal conservatives in the continuing partial government shutdown and the looming deadline on the debt ceiling. He explains how the argument over funding the government only concerns 39% of government spending. The rest of the money collected by the US government, our tax money, 61% is spent on entitlement programs that have automatic increases built-in. That's why it's so hard to reign-in spending.