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If you can argue that deficits do not matter, you can give huge taxcuts to all your friends. You can spend all you want on defense or whatever program you wish. You can spend money to create jobs because it doesn't matter how much you go into debt. You can simply compare it to the GDP, as if that has anything whatsoever to do with it.
You can argue that thru your brilliance, you have spurred the economy forward. It is taxcuts that create a good economy, you can argue. But it's not really taxcuts - it's debt that spurs the economy forward. And just as in real life, there is no free lunch. There is a price to pay for running huge deficits because the GDP is not at the government's disposal when there is a limited amount of funds to either invest or to pay interest on your debt. There comes a time when you have to make a choice.
But, if you believe that deficits do not matter, you can have a healthcare system for all America. You can have prescription drugs for all our elderly. We can have the best education system in the world because price is no concern. We can have childcare for all the working mothers and fathers in America. We can have whatever we want becasue we can simply put it on the charge card and add it to the deficit, because it is only a small percentage of the GDP.
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