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But big, persistent budget deficits also put a burden on people.
In districts with deep-seated, persistent budget problems, the state has usurped local control and put a fiscal monitor in charge of spending.
Mr. Martin oversaw a transformation in the federal government's finances, from persistent budget deficits to an unbroken run of surpluses starting in 1997.
Under New Jersey law, the state may not assume control of a municipality unless certain indicators of fiscal collapse are present, including a persistent budget deficit.
On the other, so are governments, increasingly desperate to raise tax revenue to pay for aging societies and cover persistent budget deficits.
Summers brought a third argument to the debate, one that echoed his advice to Bill Clinton sixteen years earlier, when his Administration was facing persistent budget deficits that Summers believed were suppressing economic growth.
Similar(31)
A better model, I'd argue, is Japan in the 1990s, which ran persistent large budget deficits, but also had a persistently depressed economy — and saw long-term interest rates fall almost steadily.
Make no mistake: persistent large budget deficits are a significant problem.
Which, together with the legacy of all the red ink it ran up in the 1980s, means that it's had to run persistent primary budget surpluses just to keep its debt burden from spiraling up even more.
Behind the laggard growth, economists most often cite not protectionism but the persistent American budget deficits - the product of the Government's large 1981 tax cuts, President Reagan's refusal to raise taxes and Congress's refusal to cut spending.
After Brown, a Democrat, became governor, in 2011, he tried to address a persistent state budget crisis by getting the legislature to raise taxes; when that failed, he put a temporary-tax-hike measure on the 2012 ballot, which passed and helped end the crisis.
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