Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.
Sentiment: NEGATIVE
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.
Well, a deficit reflects an imbalance between spending and revenue, and so narrowing it requires acting on one, the other or both.
But if they want to really think about the fiscal future of this country, then think about how we have moved from hundreds of billions of surpluses to hundreds of billions of deficits.
The government deficit is the difference between the amount of money the government spends and the amount it has the nerve to collect.
Well, I think what we need to remember is that budget deficits can impede economic activity.
When the economy is growing, there's a lot that can be done to deal with the deficit.
Near-term deficits are temporary and manageable if - and only if - we keep spending in check, the tax burden low and the economy growing.
Essentially, when we run a deficit, we are borrowing money to buy things that are made overseas.
I think growing an economy is a good way to help with a deficit, but ultimately, it's about fiscal discipline and responsible spending - and smart decisions.
We can have tax cuts, but when we have tax cuts and do not have a surplus, the amount of the tax cut goes straight to the bottom line, adds to the deficit, and the deficit adds to the national debt, and sooner or later, the debt has to be paid.
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