From #CNN: #Kamala #Harris to release economic plan today.
Comment ... It talks a lot about tax cuts for the poor and middle class. No mention in the article about how to pay for it. As a one-time municipal budget guy, this always gnaws at me -- both parties cut taxes for their constituencies, but no one wants to pay for it.
The federal government is the only level that can run a debt. We by law had to balance our budgets, which meant tough choices.
https://www.cnn.com/2024/08/16/politics/harris-middle-class-tax-cuts-economic-policy/index.html
@WordsmithFL So you had to be a faithful steward of your funds, like almost every household in America, but never state or federal government.
@MidnightRider State governments typically are required by law to balance their budgets, although when times are bad they borrow money to stay afloat.
I don't have a problem with the federal government deficit-spending in times of need -- recession, war -- because it's the bank of last resort. But no one has cared about balancing a budget since Clinton did it twice in the late 1990s. W. Bush and Cheney declared, "deficits don't matter" and set the precedent. Future generations will pay.