Budget deficit or no budget deficits? should the government run deficit?
Should the government be able to run deficits by borrowing money with the intention to pay back these loans in the future? With the United States national debt at 10.8 trillion can budget deficit turn out to be a large problem for the government and the economy?
Some say that governments should be able to run budget deficit because it is a way of injecting money into the future. Governments can borrow money with the intention to allocate it to specific sectors of the country that will in turn boost the economy in order to, not only pay back the debt, but perhaps pay back previous debts as well. Borrowed money can be used to pay for infrastructure that will create jobs, which will in turn increase spending.
However, although this idea seems fair and logical how can we be sure that the money borrowed is actually being spent wisely and not wasted? Why has the national debt continued to constantly rise since 2002?
What are some other arguments against budget deficit? I am organizing a debate on this as well, so all contributions are greatly appreciated.