Balancing the US federal budget

What do you think the impact will be?

Published on October 15, 2008 By jelvis In Politics

In the business press the american federal deficit is usually discussed. However, I have never seen a good analysis of how balancing the budget will affect the US domestic economy as well as the global economy.

My gut feeling is tellling me that it is going to be bad but I admit to being clueless on the subject. Such overspending during the last few good years is a bit astounding to me.

How bad do you think the effects are going to be?

Comments

Nitro Cruiser

on Oct 16, 2008

This issue is way back on the burner IMO for the foreseeable future. None of the candidates will be balancing anything soon, especially not with some of the promises being made. Expect a much larger debt than any time in US history, and with the growing sense of entitlement, don't expect it to be paid down soon.

EL-DUDERINO

on Oct 16, 2008

There are only two ways to reduce the national debt: Increase taxes and/or cut spending. Neither option is "popular" and tend to lead to politicians losing their jobs so neither will ever really happen. The biggest problem that I see is that the government is too big, it has it's hands in too many places which is draining the finances, we need to seriously cut back on what our government does but like I said it isn't going to happen.

Nitro Cruiser

on Oct 16, 2008

the government is too big

Amen, brother.

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