There is a great article on Deficits and Spending

by Henry Hazlitt, What Spending and Deficits Do, on the FEE's The Freeman Online website.

Note the fact that you can download last month's Freeman as a pdf there for free. Actually, it looks like they've got the whole issue right there on their front page. There's Walter Williams and John Stossel... And is that the article I linked a while back about Adam Smith (or did I link something else)? It's a good one: Mr. President, meet Mr. Smith.

Oh, I forgot. I wanted to say that the last one explains how Smith is hardly an advocate of British Mercantilism, as I've heard and read trolls in fora and talk radio say.