There’s Nothing Conservative about Deficits and Debt

"Deficit spending harms economic growth. When spending exceeds tax revenues, Uncle Sam makes up the difference by borrowing. This diverts capital from private markets, where it would have financed investments to increase future productivity. Instead, that capital gets redirected to current consumption. Eating our seedcorn deprives future generations of higher living standards.

There’s another economic problem with deficits: they can spark inflation. When governments spend too much, central banks might feel obliged to run the printing press to ease borrowing conditions. Consequently, the deficits and debt often bring debasement.
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Last summer, a group of conservatives committed to America’s historic creed offered a better approach to fiscal matters. These Freedom Conservatives declared that misguided government policies were making “food, shelter, health care, and energy…unaffordable to many Americans.” They also recognized “skyrocketing federal debt…is an existential threat to the future prosperity, liberty, and happiness of Americans.” This is the correct approach to deficits and debt.

- rest of column at There’s Nothing Conservative about Deficits and Debt | AIER