[richlevy]

Originally posted by Clodfobble
Your portion of the deficit this year is larger than the tax break you got. Difference is that your kids will be paying that. Feel like explaining that to them?

I agree, deficits have to be paid for by someone eventually. But I feel pretty certain this particular deficit won't be around 20 years from now for my kids to pay for. Some other deficit probably will be, but there will also be years of balanced budgets in there too. Hell, Kerry himself says he can cut the thing in half in just four years. If it's that easily done, then more than likely it will be--it's the pendulum nature of our government system. Even if you don't believe Bush will do it, at the very least someone else will get a shot another four years from now.

You can read this article about the International Monetary Fund's warnings on the US debt. This is their second or third warning this year.

IMF warns of consequences from U.S. deficits
Global prosperity at risk if America doesn't control budget

April 14, 2004 WASHINGTON - Uncontrolled U.S. budget deficits would pose a serious threat to global prosperity in coming years as rising interest rates depress economic growth in the United States and around the world, the International Monetary Fund warned Wednesday.