It is a complete folly to think that under every circumstance it is a wise thing that a country should have a balanced budget.
No it didnât.
Mine is a 30000-foot-level concept. I didnât spell out every detail or contingency.
As noted in other replies to mine, there would have to be accommodation for extreme circumstances (such as war.) Of course, that opens the door to a moving definition of âextreme circumstanceâ. I have no doubt that agendized politicians would want their pet cause to be considered âextremeâ. Perhaps a supermajority of the Senate and House would be required to accept something as âextremeâ.
Policies pursued by President Donald Trump in his current term will end up boosting budget deficits by almost $4 trillion, a bipartisan group said Wednesday.
These costs do not include the spending on containing the coronavirus pandemic approved by Congress this year.
The Committee for a Responsible Federal Budget estimated that the policies Trump campaigned on in 2016 and then pushed while in office will add $3.9 trillion to the fiscal deficit through 2026. The estimate excludes costs to deal with the coronavirus which it said were unforeseen.
The bulk of the cost comes from three culprits, the group said: the 2017 tax overhaul, higher military and veterans outlays, and two agreements reached with Congress to put spending over and above caps on annual government outlays.
I donât subscribe to doing something because weâve always done it.
I believe itâs silly to believe sovereign spending is the same as your normal household spending.
Itâs not.
Deficits and debt are neither inherently good nor bad.
Iâm glad we could find agreement on the other stuff.
I am perfectly in line with people who believe the federal government spends on things it ought not spend on, and rarely is the national interest considered when those decisions are made.
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Horse feathers.
Even in a household, not all debt is bad.
How so?
Fair.
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Well, imagine a horse. Now imagine that it has feathers.
Hey! Imagine it has wings, and itâs a pegasus!
I knowâŚit was two separate points.
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Iâve really come to appreciate the detailed and thought provoking rebuttal.
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