Shoobis1
Member
Granted, there are smart ways to balance the budget. But in general, balancing the budget, whether by cutting spending or by raising taxes, will make it harder to grow the economy. We're in a bad situation where we have huge budget deficits and a stagnant economy. So which, to you, is the higher priority--balancing the budget even if it slows the recovery, or growing the economy even if deficits balloon higher?
I'd look at situations like this on a case-by-case basis, and in this case, I think our deficits are just so far out of control that something has to be done about it. It would be suicide to keep growing our debt. In the past when we've had a recession, whatever bone-headed thing the government has done about it, real growth has eventually come along to save the day and make it all moot. But now I'm not so sure real growth is coming anytime soon. We may have to get used to a stagnant economy for awhile and not rely on an economic boom to save our asses and fix all our problems.
I'd look at situations like this on a case-by-case basis, and in this case, I think our deficits are just so far out of control that something has to be done about it. It would be suicide to keep growing our debt. In the past when we've had a recession, whatever bone-headed thing the government has done about it, real growth has eventually come along to save the day and make it all moot. But now I'm not so sure real growth is coming anytime soon. We may have to get used to a stagnant economy for awhile and not rely on an economic boom to save our asses and fix all our problems.