Cato’s Dan Mitchell tells a Steamboat Institute audience that the main long-term threat to the economic health of the US comes not from deficits per se, but from the spending that creates them. Titled “Controlling Leviathan: The Battle for Limited Government,” Mitchell expands on his series of videos intended to instruct people on the erosion of liberty and prosperity that comes with the growth of government. Tony Blankley moderated the panel discussion and the Q&A afterwards. These are long videos, but well worth it for both education and entertainment.

Pay close attention to Mitchell’s dead-on accurate prediction about what will get the blame 30 years from now for the current economic crisis, and what will get the credit for its resolution.