Quote Originally Posted by Fuchs View Post
Besides; the U.S. is a deficit country (state, federal public debt & consumer debt). That is not sustainable. A "balance" attitude is necessary or else all you'll get is a bit make-up that covers the real problems till the next, bigger crash.
One quibble. States by law (1 exception) are not allowed to run a deficit. States are required to balance their budgets and even scope spending quarterly based on realized tax revenues. There is also a difference between a deficit and debt. A deficit is when you spend more money than you take in. Debt is when you owe on some asset. Consumer debt isn't necessarily bad some forms are actually good (when used for realized goods or balanced by real property value). A deficit is usually a political football depending on where you allegiances lie. A deficit can be a moral issue, or an economics issue with flavors of each blending between the two.