Balanced budget: For, or against?

Question

Should our country be mandated to have a balanced budget and be fiscally responsible, or should 'spend at will' be the rule of the day?

Answer 1

Budget deficits are only good when
(a) there is no risk of inflationary pressure
(b) the country is in recession
(c) whatever is loaned is spent on increasing productivity.

While fiscal discipline is worth striving for, it would be problematic if low interest rates result in a blow-out in consumer borrowing.

Answer 2

what a stupid question, it is a basic Keynesian question, of course you should run deficits when you need too, other wise you will have the same effect as the great depression. has the world gone mad? creationism and now back to classical economics
you deficits to stimulate the economy, balanced budgets all the time will spiral the economy during a down turn from a recession into a depression
god the economic ignorance is amazing
how can fools who obviously have not the slightest idea of economic history recommend a solution that has failed previously is it longing for a simpler black and white life? tough life is complicated and needs shades of Grey
a compulsory balanced budget ties the hands of the government, when it needs to stimulate the economy

Answer 3

I agree, kind of a "no brainer" of course we want a balanced budget.

Answer 4

That's kinda like asking if someone had a choice of getting their hands cut off or not having their hands cut off, which would you choose?