Discussion posted by: Arye ben-Shaoul
It’s probably not too early to worry, if only a little, about the federal deficit. It’s also probably not too early to worry that worrying too much about the deficit might unnecessarily crowd out all the other things we’ll have to worry about after the COVID-19 pandemic finally ends. If nothing else, the current crisis and the massive use of public funds to respond to the threat might forever bury the notion — promoted by generations of politicians — that a government’s budget is neatly analogous to a household budget. Governments, unlike people, are eternal (at least in theory). A government can accumulate and carry debt without necessarily having to worry about ever fully settling the tab.