This is true. However, it is not the only way the government can run a deficit. Taxes can be high, and spending higher.
Yeah, I missed another way: taxes can be too low, spending can be too low, and government can still be running deficits.
There are other ways beyond that as well. All that's really required is that spending be greater than the income generated. That's pretty much a fail regardless.
A fail, except for times where the burden of debt is manageable into perpetuity. Which time has been, for the US, almost always. I assume you're posting from your office, while working, so you're already making it all possible. Thank you.
Being able to pile on debt throughout a few decades doesn't mean it's manageable into "perpetuity". We saw the first shock of that come in 2008 and have experienced the hangover from it the last 5 or so years, and more will follow. Only the short sighted think there's no check to pay at the end of a spending spree funded by debt. And it's lunch time right now. Can't a man have a sandwich?
Pile on debt? Gee.... the yearly state budget was balanced every year for the past 100 years without borrowing. At a state level this is not a "debt" problem. We have not issues with pension liabilities (state employees pensions are self-funded via 6% of their pay deductions). The credit rating of North Carolina is strong, and we only borrow for large capital projects using muni bonds at the local and county level.
I appreciate your desire to make everything about North Carolina, but Ricter and I were speaking about the federal deficit.
Here is part 2.... You teach in the leading public STEM school in the state that is used as a model across the U.S. for proper middle-grades STEM education. Each student is supposed to have a laptop at their desk to perform the on-line curriculum. The Republican legislature cut all money for funding school supplies. Now none of your rising sixth graders have laptops. How do you teach the state mandated on-line curriculum? So much for keeping up with K-12 education systems outside the U.S.