Don't forget what I discovered that over ninety percent of all national deficits from 1921 to 1939 were caused by payments for past, present, and future wars.
Sentiment: POSITIVE
Essentially, when we run a deficit, we are borrowing money to buy things that are made overseas.
When the economy is growing, there's a lot that can be done to deal with the deficit.
Maybe that first, gigantic deficit the Reaganites piled up was an accident, just a combination of deluded 'supply side' tax cuts and a huge bag of good stuff for the Pentagon. But pretty quickly conservatives discovered that deficits, when done correctly, did something really cool: deficits defunded the Left.
Well, I think what we need to remember is that budget deficits can impede economic activity.
The United States as usual has a sizable deficit in the current account of its balance of payments, trade account and other current accounts, current account items.
I have spoken about deficits, and I think deficits are important because they address broad economic and financial stability. We need to talk about that.
One of the reasons the deficit got as big as it did, frankly, was because of the economic slowdown, the fall-off in deficits, the terrorist attacks. A significant chunk was taken out of the economy by what happened after the attacks of 9/11.
The best way to deal with the deficit is through economic growth.
Well, a deficit reflects an imbalance between spending and revenue, and so narrowing it requires acting on one, the other or both.
In fact, our monthly trade deficit figure is so huge it equals the entire annual budget of our Department of Veterans Affairs. Veterans fought to make us free from foreign tyranny, but the new tyranny is taking a different form.
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