It used to be that our government paid for costs as they arose and maintained a pay-as-you-go fiscal discipline. Not any more. One reason is that politicians have figured out that it is much easier to promise things today and borrow for them so that no one feels the cost today. This video explains the concept of diffuse costs and concentrated benefits in more depth. There are two previous videos offering other reasons for our high debt. Click here for one about the shift to economic rights from civil rights, and click here to learn about Milton Friedman’s 4-quadrant money/spending matrix.