“We don’t have deficits because the people are taxed too little. We have deficits because the government spends too much.” -Ronald Reagan answering “Why does the Government have Deficits”
My Thoughts about Reagan’s Quote on Deficits
The federal government’s rate of spending is incredibly alarming. Each day, it shoots ever upwards, which is why we have a skyrocketing national debt. Unfortunately, no one in D.C. seems to care much about that.
Instead, they’re far more preoccupied with finding yet more ridiculous programs on which to spend our money. Unworkable Medicare for All? Sure, why not?! It’ll only cost trillions and trillions of dollars. Or how about our unsustainable Social Security program? Should we do the fiscally responsible thing and abolish it, thus allowing Americans to invest their money on their own? Nope! Let’s just keep expanding and expanding it. Why not add in free college while we’re at it? Because there’s no gold standard, all the money is imaginary anyway.
The D.C. mindset is absolutely ridiculous. It’s as if all they know how to do is spend. And to finance that spending they propose onerous and ever-increasing taxes, such as the death tax and Elizabeth Warren’s unconstitutional wealth tax.
Well, in my opinion, that’s irresponsible and absurd; Washington needs to learn how to balance its checkbook.
Reagan, in the above quotation, summed up the perfect answer to “why does the government have deficits?” It’s not because of Trump’s tax cuts, wealth inequality, or low-intensity conflicts in the Middle East, as many Big Government proponents say.
No, the answer to “why does the government have deficits?” is that policymakers in D.C. are addicted to spending and the votes they can buy with that spending.
Our Founding Fathers recognized the danger that debt would pose. The Jefferson Administration worked especially hard to pay off a massive debt despite having few resources with which to do so. How? By being fiscally conservative and not spending far more money than it had on programs no one needs. Also, Benjamin Franklin pointed out the dangers of allowing Congress to buy votes with spending. That’s now called pork-barrel legislation.
The spending problem isn’t confined to one party either. In fact, the debt is still a problem only because both parties are addicted to huge amounts of spending. That needs to change because, if it doesn’t, then all of America will be on the hook. Endless debt payments and endless higher taxes to pay for those debt payments will plunge the country into an era of lacking productivity and decreased prosperity. Is that really what our politicians want?
Hopefully not. They are probably just so irresponsible that they can’t comprehend the need to cut down on their spending now, rather than later.
But, that doesn’t mean that we can excuse them or should excuse them. I think we all know how to answer the “why does the government have deficits?” question. That means our politicians probably do too. They’re just unwilling to make tough decisions and want to instead pass the problem on to future Americans. In my view, that is as cowardly as it is inexcusable.
So, now if anybody ever asks you, “why does the government have deficits?,” now you know how to answer. It’s not because of low taxes; taxes are incredibly high compared to the founding. Instead, we have deficits because D.C. is addicted to spending.
By: Gen Z Conservative