@oralloy,
oralloy wrote:No matter whether it is big spending or small spending, if the spending is reliably paid for it should count as fiscally responsible.
Basically the government releases liquidity into the economy and then re-captures it, if their goal is to balance the budget.
The more liquidity they release, the more inflationary pressure that creates.
Inflation is basically a tax on saving, which benefits those who borrow and spend more. If you like giving money away to rich people who borrow and spend a lot at the expense of poor/middle-class people who work hard to spend less than they make so they can have future financial security, then go ahead and support big spending and inflation by promising big taxes to balance the budget after the big spending happens.
Only realize that the big tax promise won't materialize, just as it never does. Once the money is pumped out into the economy and circulating, there will be too much political pressure to not raise taxes to get it back. That is what has happened with the current Obama-Trump cycle. Obama pumped it all out there and then Trump came in to cut taxes so it could stay in circulation. That is how the two-party government operates.
What would be great is if the party of liberal spending would break the vicious cycle by for once not coming up with a BS 'balanced budget' excuse for more big spending. Just cut spending and find other ways to help people with unemployment and reduced income. Create more efficient food-distribution programs, home ownership programs that don't give or lend money. In short, find ways of supporting people in need without using money to do it.