Originally Posted by Arkie
It's bad fiscal policy by the Republicans and Democrats. The Republicans were worse over the last 30 years, and nobody else of real importance has stood for a true conservative fiscal policy of a balanced budget.
I don't think a balanced budget deserves the near sanctity that many on the Right give it. Economics is situational. If your economy is going full barrel, you're approaching full employment, your GDP keeps rising and your tax policy is sound (i.e., progressive) then a balanced budget and saving for a rainy day is smart policy.
If you have high unemployment, stumbling GDP and slow growth you do what is best for the greatest number of your people until the economy rebounds. If that includes higher debt, so be it.
IMO, the purpose of government is to serve the interests, in other words, the general welfare of your people. Not to fulfill the requirements of an ideology.