Faced with large deficits, should balancing the federal budget be a critical goal...?

Question

Faced with large deficits, should balancing the federal budget be a critical goal for decision-makers in Washington? What are the most significant problems associated with the US having large and continuing annual deficits?

Answer 1

Absolutely.
The problem is that neither political party has been overly good at fiscal responsibility.
Ronald Reagan started a political revolution based on tax cuts and reduced spending (although the Dems would have none of it, and controlled congress at that time) and pushed for a balanced budget amendment. I still think this is the only real way we will get around the politics of Pork.

The Republicans have lost their way, and the Democrats don't believe in fiscal restraint at all, so it will be awhile until we deal with this problem. Consider this whenever you vote.

Answer 2

Actually if you look at any fact sheet, Reagan had the record for highest deficit, only to be way outdone by Bush SR , Clinton Balanced it, Bush JR set the mother of all records, this is all facts, before Reagan, any fluctuation was 2 or 3 percent of what it is now, and its actually 4 to 8 times the amount since most of these charts went on estimates the last few years and we have gone WAY over estimates, FACT.

I just wish people would realize the damage it can cause to the long term economy,As of now I think $120,000 EACH family of 4 owes, it does not take a rocket scientist to figure out that if you took out a loan for that much for your family and have NOTHING to show for it and really must pay it back plus interest before you can save and truly get ahead. People keep talking about the democrats raising taxes, the republicans need to quit,spending money they don't have and put the burden on the tax payers. the country will be bankrupt if we don't balance the budget, FACT . This really isn't a Republican VS Democrat thing, I dont like the far left wing either, but these are the facts right or wrong, we MUST FIX.

You know if it was a law that we has to have a balanced budget, that would stop a 1000 other types of corruption

Answer 3

...I want to spoon...