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Your arguments against the balanced budget don’t convince me. Have you looked at the federal, state, and local debts lately? It is mind boggling
by nomoreplease 5y ago
Your arguments against the balanced budget don’t convince me. Have you looked at the federal, state, and local debts lately? It is mind boggling
- Ericson2314 5y agoBallooning deficits fine. We spent our way out of a recession and prevented untold human suffering. We'll even bet more tax revenue over the next few years than had we did economic Seppuku as the balanced-budgeteers would like instead. There is a ton of literature on why running deficits is not a problem and in fact good in many situations. Rather than try to summarize all that, I instead flipped the question to point out that not running deficits means more than it might sound like.
- nomoreplease 5y agoI get that, but I’m still not convinced. Running deficits is fine, but you can’t do it in perpetuity. When do you suggest we stop?
- Ericson2314 5y agoYes you can run deficits in pepertuity if they are, say, bounded by some coefficient of GDP.