@Jaxk The US has only run budget surpluses for 12 of the last 75 years. It’s not some new Obama policy, but standard practice in government finance. Deficit spending is how government puts new money into circulation. Without it—more money ends up being supplied by private banks, and that means an increase in private debt.
Government debt has practically no adverse macroeconomic effect. There is no such thing as “spending beyond out means” in terms of government finance. The only constraint on spending are the limits of real resources and labour—the productive capacity of a nation.
The top 1% in the US have accumulated more wealth than at any time since the Gilded Age—but somehow you think they have nothing to do with the supposed lack of money for other things.
Real corporate taxes in the US are some of the lowest in the world.
Those on low incomes don’t pay income tax because they have low incomes. This isn’t a sign of how the rich are graciously shouldering the burden of social spending, but rather an indication of how vastly larger their incomes are, and how vastly more wealth they have accumualted when compared to the poorest 50%.
”. . . the “give me free stuff and make someone else pay for it” crowd is going to drive us under.”
Hardly. Spending on health and education has positive externalities—it means people can get on with fulfilling their potential to a greater extent, and contributing to everyone’s cultural, material, and intellectual enrichment. Investing in infrastructure, moderning it, making it more energy efficient, and ecologically sustainable—increases productive capacity, makes travel quicker, lowers pollution, creates demand for more high skilled jobs.
It’s your wrong-headed right-wing economic and political thinking that is just empirically wrong. Theoretically wrong. Empirically wrong. Illogical. Just wrong, wrong wrong. It also seems to not matter how wrong it’s proven to be time and time again—you’ll be back to double-down on it. True believers to the end.