Reply #13: I think you are correct dsc [View All]

[Yupster]

In 1932 the defecit was a direct result of the New Deal spending to get out of the Depression and was very much temporary.

On the other hand, the US is currently in a positive part of its economic cycle. We should be running on maximum surplus right now. The fact that we are not shows that our defecit is structural meaning even in normal times, we spend more than we make every year by a lot.

This obviously can't go on for too long.

My own guess is that it will eventually be taken care of with a good healthy dose of hyper-inflation.