Are deficits bad? Why Bush and Rush are wrong
"Are deficits bad?
Persistently large deficits can be bad for the economy since they can lead to higher long-term interest rates and can depress national savings. In addition, large debt amounts can lead the economy down an unsustainable path. Each of these effects could harm the economy. Furthermore, deficits simply push off the burden to future generations. This is particularly troubling with the coming retirement of the baby boomer generation.
However, deficits do allow the government to finance vital national priorities, and can buffer the effects of economic fluctuations. The current level of deficits will hopefully prove to be, in OMB director Boltens words, "manageable." However, the persistence and the magnitude of the deficits, especially considering current and future needs that are going unmet, as well as the unprecedented dive from surplus to deficits, are a sign that the current administration is not acting in a responsible manner on tax and budget issues" see attached article for more.
Bush is evil