I can hear the whataboutisms now - and it’s true that I didn’t complain about deficits during the Obama years. That’s because it was recovery time, and I’m a Keynesian. And deficits shrank in his last years, as the recovery continued.
Now...jeez.
Key paragraph: “According to Keynes, governments should be accumulating surpluses during economic boom times to help counteract business cycle contractions—not expand government spending, regardless of season. The latter is a recipe for fiscal collapse.”
Link: https://nationalinterest.org/blog/buzz/23-trillion-us-national-debt-already-exceeds-size-us-economy-118416