Count Chocula wrote:
I certainly think that government spending should be reviewed, and in all likelihood reduced. Just because a government program exists is not justification for its continued existence. However, cutting spending will have an effect on people, and I believe that once a surplus is achieved, those people will argue in favor of restoring spending. I think both Democrats and Republicans are guilty of "passing the buck" to future generations with respect to the national debt.
"once a surplus is achieved"? How?
The last time we had a budge surplus was during the Clinton administration. Things were going so well that there was talk of wiping out the entire national debt.
Instead, W was elected. First he decided to pass several massive tax cuts for the wealthy. Then he decided to spend a few trillion on foolish wars.
At the beginning of the Obama administration, we spent trillions more to battle the recession. Things got better, but we'll never know for sure if it was the right move. What we do know for sure is that it put us in a deeper hole.
Now with another massive tax cut for the wealthy, a trade war, and higher interest rates, the budget deficit is set to grow larger still .
I don't know how we could ever turn back the clock and get to another surplus. It looks like we're too far gone.