Spending, financed not by current tax receipts, but by
borrowing or drawing upon past tax reserves." , Is it a good idea? Why
does the U.S. run a deficit? Since 1980 the deficit has grown
enormously. Some say its a bad thing, and predict impending doom,
others say it is a safe and stable necessity to maintain a healthy
economy. When the U.S. government came into existence and for about a
150 years thereafter the government managed to keep a balanced budget.
The only times a budget deficit existed during these first 150 years
were in times of war or other catastrophic events. The Government…
