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A really good trick to get them thinking is to ask an open question. My personal favorite is, "So, what do you think will be the unintended consequence of another round of QE? Prolonged stagflation like Japan, hyperinflation like Germany, or collapse like Greece?"

A neat little report from the National Bureau of Economic Research entitled, "The Tipping Point," has been very useful in countering their claims of more spening. Definitely, download it and read it. We're already there (at the tipping point).

Another great tidbit to toss around, especially when they wax poetic about FDR's spending, is that total publicly held debt only equaled 2% of GDP, compared to the over 100% (now 16.8T versus a GDP of 13T) of today.

Finally, NBER reported that the debt from Social Security alone is $77 trillion in unfunded liabilities (more than the wealth of the entire world).

I usually end by reminding folks that the bad thing about taxing the rich is that eventually, you run out of other's people's money. Then what?

Great information I will surely use, well some of it as the other would likely go right over their heads. I doubt they know what GDP is!

I will download “Tipping Point”...thanks for the reference.

Another great tidbit to toss around, especially when they wax poetic about FDR’s spending, is that total publicly held debt only equaled 2% of GDP, compared to the over 100% (now 16.8T versus a GDP of 13T) of today.

and in ten years it will be 21T versus a GDP of what?