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[–] 9451677? 0 points 6 points (+6|-0) ago  (edited ago)

Funnily the last president to have an even budget was a liberal, Bill Clinton, despite war expenses for getting involved in Ex-Yugoslavia. His Republican successor Bush was no better about racking up debt than Obama was.

Neither major party is seriously interested into cutting back debt, they only care about spending money on different things. Liberals love to have more welfare and social programs, Conservatives love to have more military and cut down taxes without cutting back the administration, and both are very interested into lining the pockets of their friends.

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[–] Waiyu_Dudat 0 points 2 points (+2|-0) ago 

Ol' rapin Bill got a bit of a "lucky break" with the dot com boom. But I'm sure someone will come and add another point why that isn't very relevant. I agree with you though, government isn't concerned about cutting back debt, only about getting theirs. Even though the numbers were there for Bill, I'm sure the real value of America was decreasing overall. Going further into debt feels like a party and the numbers can make it look good in the short term. If I take out a loan and you only look at my bank account, you'll think I hit the jackpot, but we know that's not the reality.

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[–] litux ago 

Going further into debt feels like a party and the numbers can make it look good in the short term.

Exactly! As Peter Schiff put it,

To explain business cycles and how they work, the boom is the problem, the bust is the solution. The boom is like an artificial high, like you take heroin, you shoot up and it makes you feel good, it’s artificial. You want to get healthy, then you have to go to rehab, detox. You go cold turkey, you go though withdrawal. The withdrawal symptoms are very unpleasant, painful but it’s necessary if you want to remove these toxins from your system and become healthy again. The same thing happens in the business cycle, when you have a central bank, same as the 1920s , you have monetary policy that is too inflationary and you create an asset bubble, you create mal-investments. And the mal-investments need to be purged. The economy needs to be rebalanced