Confidence!!!

[cthulu2016]

12. Yes, Obama doesn't have to balance the budget

"If Obama balanced the budget we would enter something worse than the great depression."

That sentence is hardly a call for Obama to balance the budget. I support the current budget deficit and wish it was much larger.

In fact, I would prefer that the federal budget deficit in 2012 was, when added to all private borrowing in the economy in 2012, equal to all borrowing (public and private) in 2006 or 2007.

As the borrower of last resort the federal government is obliged to be running an astonishing deficit right now.

As for the long-term deficit reduction in Obamacare, that is also welcome because it is in the long-term future. If the economy recovers then deficits will no longer be the only thing keeping the USA afloat and will be a negative thing.