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March 27, 2017

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Considering monetary policy, federal and state tax cuts, and our war on terrorism, what options does our government have available to them to balance the federal budget.

  • Economics - ,

    To move from a deficit to a balanced budget, lawmakers must raise revenues and/or lower spending. Period.

    Not only do taxes raise revenue, governments also collect money from fines, penalties, and user fees. (Although, by comparison, these are tiny). And governments spend on a whole lot of other things besides fighting terrorism. E.g., National Parks, farm subsidies, roads, medical care, tax administration, aid to the needy, etc.

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