Quote:
Originally Posted by Pokesan
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what's the benefit/usefulness of a balanced budget
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Is this a serious question? Assuming it is, I'll treat this like explaining it to a child, because I can't picture a grown adult asking something so obvious.
Every time the government spends more money than it collects in taxes for the year, it has to borrow money from someone to make up the difference. When you borrow money from someone, they charge you a fee for the time that you have the money. We call this fee "interest". Currently the US government spends over $200B a year on interest. That's $200B we don't have for other things like roads, health care, education, and bombing brown people. And that's a lot of money Timmy!