The budget of the US government is not like the budget for your household or your business, or even a corporation. Every 8th grade social studies student learns that Hamilton proved, our nation NEEDS a deficit. We do better when we owe money. Jackson proved Hamilton right, when they paid off the deficit in 1837, causing the worst economic crisis in American history. Do we need a deficit THIS huge? Good grief, no. But don’t act like we’re ever going to pay it off or make it go away, either. That would be a BAD thing.
The budget of the US government is not like the budget for your household or your business, or even a corporation. Every 8th grade social studies student learns that Hamilton proved, our nation NEEDS a deficit. We do better when we owe money. Jackson proved Hamilton right, when they paid off the deficit in 1837, causing the worst economic crisis in American history. Do we need a deficit THIS huge? Good grief, no. But don’t act like we’re ever going to pay it off or make it go away, either. That would be a BAD thing.