I think it's absolutely clear that the fiscal path we are on is not sustainable, and for me, the best analogy is these deficits are like a cancer, and over time they will destroy the country from within.
Sentiment: NEGATIVE
We cannot win the future, expand the economy and spur job creation if we are saddled with increasingly growing deficits. That is why the president's budget is a comprehensive and responsible plan that will put us on a path toward fiscal sustainability in the next few years - a down payment toward tackling our challenges in the long term.
Well, I think what we need to remember is that budget deficits can impede economic activity.
I think where I differ a little bit, we absolutely have to think about the deficit looking down the road. And certainly that's something the president has said that we need to, as the economy recovers, have a plan in place for getting it down.
A lot of our fiscal deficit went to fund consumption and really did not get used to build investment and infrastructure. The trouble is, you can get a spurt in GDP growth, which may not be sustainable. I would much rather build the gradient of a long-term marathon.
I think that when we look out with our underfunded liabilities and our national debt over $14 trillion, I think if we are part of that movement to get our government spending under control, I think that would be a tremendous legacy to leave.
I am not worried about the deficit. It is big enough to take care of itself.
Fiscal discipline can turn the economy around.
Understanding that yes, we are committing more resources than we thought we might be in protecting our homeland and prosecuting a war and so it's understandable that we would be going through a period of deficits.
The only way to eliminate the deficit in the long run is through growth.
Near-term deficits are temporary and manageable if - and only if - we keep spending in check, the tax burden low and the economy growing.