A political columnist wrote the following:
Today ... the main purpose of governments issuing bonds is to let craven politicians launch projects they know the public, at the moment, would rather not fully finance. The tab for these projects will not come due, probably, until after the politicians have long since departed for greener (excuse the expression) pastures.
Do you agree with this commentator's explanation for why some government spending is financed through tax receipts and other government spending is financed through borrowing, by issuing bonds? Briefly explain.