5 reasons why national deficits are bad

Website design By BotEap.comWhen politicians are part of the minority, or part of the party, out of power, they often use the deficit, as an excuse or justification, to oppose certain programs, which they oppose! One of the key responsibilities of holding public / elected office should and must be to do what is best for the nation, and the fact is that ongoing, unaffordable and unsustainable deficits are irresponsible and potentially damaging in the long run – term! Why, now, when the Republican Party controls the three arms of our government, are they the same people, who criticized against deficit, when the opposition party controlled the Executive Power? If nothing else, American politicians have perfected the art of being hypocrites! With that in mind, this article will attempt to briefly examine, consider, and discuss 5 reasons why national deficits are bad ideas.

Website design By BotEap.com1. Public trust: When a candidate, like Donald Trump, campaigned against the irresponsible management of the economy, and then when he was elected, President Trump and his political supporters seem to ignore this, for tax legislation to be enacted, many would not lose confidence, in the long-term ramifications of doing so? Why should anyone believe these elected officials, who spent the past eight years opposing President Obama’s agenda, emphasizing avoiding deficits, but now, when trying to achieve their personal political agenda, they seem to make excuses and promises, asserting who don’t? no matter? Most realize that politicians often stretch the truth, but hasn’t this gone too far?

Website design By BotEap.comtwo. Untenable: The last time America had a balanced budget was in recent years, when President Bill Clinton was in office. Who doesn’t remember, Al Gore, who campaigned in 2000 on the use of a safe deposit box to protect Social Security? If people must act responsibly on their personal budgets, how does our government behave in another, responsible and / or sustainable way? Today’s trillion dollar deficits are sure to have undesirable long-term ramifications!

Website design By BotEap.com3. Debt service: The longer our budgets have these huge deficits, the greater the impact going forward. Increasingly, of the government’s revenues and resources will have to go to servicing the debt and, in the long run, this will hurt the economy as a whole.

Website design By BotEap.comFour. International: The value of the dollar is negatively affected by continuous and huge deficits, for many reasons, but one of the essential ones is how others perceive the stability of our economy. Since many components of the world economy have been based on the US dollar, including the prices of commodities, such as oil, etc., if we continue with this irresponsible management of our economy, there will be serious negative ramifications!

Website design By BotEap.com5. Poor policy: Although the excuse of those who seem to believe that deficits do not matter, because, after all, the government prints our money, the fact is that this irresponsible behavior is bad policy in the long term, which will have undesirable consequences. ramifications, and they are not sustainable, in the long term!

Website design By BotEap.comWake up America and let your elected officials know, you realize, it is bad policy to sharply increase the deficit, especially to give most of the tax cuts, focused on the wealthiest! Be careful, because the next step will be to reduce your safety net!

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