Kelinfort wrote:Empire of Vlissingen wrote:A balanced budget would mean that the debt will lower and if the debt decreases the interest payments decrease so that you can spend that extra money on something like education or infrastructure.
The interest payments are directly tied to the treasury bond rates...which as they stand are very, very low. It would take years to reap any benefits. Slashing the budget would decrease economic growth and result in far more downsides than positives.
And you actually think that, after all that is done, they would invest in education? Paul would rather privatise education than do that.
Paul could give tax benefits for the use of private education.
A deficit is a tax to future generations - Ron Paul.
The young people will have to pay the debt with higher taxes and reduced government.