Quote:
Originally Posted by retiredguy123
My comment was about the national debt reaching a "record". The debt reaches a record high every day, and the economy has been dependent on deficit spending almost every fiscal year for the last 100 years. Yes, deficit spending does prop up the market, but that is nothing new. I would love to see the country balance the budget, but the budget is controlled by Congress, who are elected by the voters. And, most voters have no interest in a balanced budget. The chance for a balanced budget in 2021 is about zero.
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We have had a surplus during the second Clinton administration. Combination of both sides working together.
Unfortunately 9 11 happened and both parties decided lets run deficits all the time.
At some points deficit spending is good to help the economy but when they do it all the time spending gets out of control and inefficient govt spending crowds out small companies (from borrowing) who are the engine of our economy.
After the virus is under control we do need to get govt spending under control and at least run a balanced budget.