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U.S. Budget Deficit - Good or Bad?

"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 events. The Government, for

instance, generated deficits during the War of 1812, the recession of

1837, the Civil War, the depression of the 1890s, and World War I.

However, as soon as the war ended the deficit would be eliminated and

the economy which was much larger than the amounted debt would quickly

absorb it. The last time the budget ran a surplus was in......

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Approximate Word Count: 1625
Approximate Pages: 7 (250 words per double-spaced page)

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