For much of the 20th century, the U.S. government operated under the principle that it should finance its spending mostly by collecting taxes rather than by borrowing.
While conventional wisdom favored running temporary deficits during emergencies, such as wars or recessions, no one argued that a fiscally responsible government should commit itself to running budget deficits so large and sustained that government debt would grow faster than the size of the economy.
Poor Valerie. Does she know monetarily sovereign governments produce fiscal space out of thin air?
It is always time to be fiscal. It is now time to make the deep cuts needed to get us out of this hole.
Way past time, both parties at fault for decades on funding for three social programs which is driving this issue
US has not had a TRUE balanced budget (outstanding debt decreases year over year) since 1957.
Trade Europe trades centuries of technology for cheap China goods,only to see the market price,big loss.deficit is sending money to China.The people of Europe are not unindustrious,they don't know that Politicians prefer people to be slaves of China for their own selfish ends！
Sounds like this Murdoch rag has realized that the Republicans are doomed to electoral failure and is priming the pump for a decade of obstructionism.
'Prudent governments' no such thing.
stephaniekotuby The GOP and 😡tRump can NOT blame President Barack Obama for approving the $1.5 Trillion Tax Scam that was given to themselves and the wealthy 1% of America instead of spending it on infrastructure that would NOW help our economy 🤷♀️ MAGA=FAKE 🏌🏼♂️🇷🇺
It's time to start thinking about global petrodebt OilStandard
hey kids! what time is it?
Hardly a novel concept.
😂😂😂😂😂 seriously nobody in DC cares about the debt.
what is household debt looking like these days?
No it is far passed that time which was 1969
🙄
But Paul Ryan promised that tax cut would pay for itself!
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