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Baraka_Guru · 02-17-2009, 08:31 AM

The U.S. has a long history of deficits, so I don't see why now would be a good time to avoid running one. But the problem remains: a long history of deficits slowly cripples you in the long-term.

A comparison:

U.S.: Budget

Canada: Budget

Canada cleaned up its act mainly because of "balanced budget" legislation. However, I feel deficits are sometimes necessary, even in Canada. (Possibly now.)

The problem with U.S. budgets is that they overspend (undertax?) during high economic times, when they should be balancing budgets and paying down debt.

I guess this hasn't been done due to the American penchant for perpetual crisis.

I generally see tax cuts as means of appeasing opposition or winning votes.

02-17-2009, 08:31 AM	#10 (permalink)
Baraka_Guru warrior bodhisattva Super Moderator Location: East-central Canada	The U.S. has a long history of deficits, so I don't see why now would be a good time to avoid running one. But the problem remains: a long history of deficits slowly cripples you in the long-term. A comparison: U.S.: Budget Canada: Budget Canada cleaned up its act mainly because of "balanced budget" legislation. However, I feel deficits are sometimes necessary, even in Canada. (Possibly now.) The problem with U.S. budgets is that they overspend (undertax?) during high economic times, when they should be balancing budgets and paying down debt. I guess this hasn't been done due to the American penchant for perpetual crisis. I generally see tax cuts as means of appeasing opposition or winning votes. __________________ Knowing that death is certain and that the time of death is uncertain, what's the most important thing? —Bhikkhuni Pema Chödrön Humankind cannot bear very much reality. —From "Burnt Norton," Four Quartets (1936), T. S. Eliot