As anyone who lived through the 1990s knows, nothing shrinks our deficits faster than a growing economy.
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When the economy is growing, there's a lot that can be done to deal with the deficit.
Chronic deficits drastically reduce government's ability to make those infrastructure investments that business needs to grow and create jobs.
The only way to eliminate the deficit in the long run is through growth.
Well, I think what we need to remember is that budget deficits can impede economic activity.
Look, I don't dispute that the deficit has increased.
Economically, long-term joblessness means fewer dollars for consumption. For deficit control, it means fewer taxpayers contributing to government revenues and tens of billions more spent on unemployment insurance.
The debt and the deficit is just getting out of control, and the administration is still pumping through billions upon trillions of new spending. That does not grow the economy.
The best way to deal with the deficit is through economic growth.
Traditionally, the way deficits have been cut is you hold expenditures more or less constant in real dollars and then let growth come in to fill it up.
Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.