How in the world did the US Federal government ever achieve a balanced budget and how can they go about ever doing it again?

Question

Follow up: is it realistically achievable ever again, and should it even be a goal to be concerned with?

In: Economics

Answer 1

You simply turn the dial that controls income and the dial that controls expenses till the two balance.

Governments want to plead poverty because they want a ready excuse as to why they can’t do things like healthcare or school lunches. They would much rather slash corporate taxes or hand another trillion to the black box defense industry.