1. When you spend your own money on yourself, you watch both price and quality.
2. When you spend your own money on someone else, you still watch the price, but you can only guess whether the purchase will satisfy the recipient.
3. When you spend someone else’s money on yourself, you care about quality but have little reason to economize.
4. When you spend someone else’s money on someone else, you have little incentive to control either price or quality.
Is #4 the principal reason the USA has a $40 Trillion National Debt?
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