Mises Wire

While government spending re-allocates and distorts resources, it is not necessarily inflationary. Inflation really just stems from money creation and fractional-reserve lending carryied out by central banks and private banks — thus creating money "out of thin air."

Government spending doesn't create wealth. It destroys wealth.

We're supposed to think it's perfectly normal that Washington DC bureaucrats decide whether or not you can use an outhouse toilet 2,500 miles from DC. Because it's in a "national" park.