Deficit spending at the levels of the last year, when combined with the deficits of the last decade, is NOT justifiable by any moral, ethical or economic means. In order to spend money the federal government does not have, the money must be borrowed. The current levels of federal borrowing are beyond unsustainable. The debts being accumulated now cannot be paid back even by our grandchildren when their time comes. This isn’t deficit spending, it’s generational theft.
Perhaps even worse is who is financing the deficits – largely the Chinese, who are also growing their economy (a flawed one to my way of thinking) by financing our deficits. In effect we are mortgaging our country’s future to the Chinese.
Eventually the vast amounts of deficit spending will also result in massive inflation.
In short, you are wrong.
The correct solution is twofold. First, stop the hemorrhaging of money coming out of Washington. Rein in spending. One of the reasons we are where we are is that Republicans forgot to act like Republicans when they had control of Washington. Rampant socialism (four+ decades of liberalism) is killing this country.
Second, encourage economic growth by cutting taxes. Leave money in the hands of the people and businesses who earn it. Haven’t we learned anything from the collapse of the Soviet Union and its satellites? The socialist model of central control of the economy doesn’t work! It’s a formula for massive failure!
