Pistol Wrote:
Nov 17, 2012 7:44 PM
There are at least 2 ways out. One is some cataclysmic event that makes us the world's factory, like WWII did. Going back to a positive trade surplus of hundreds of billions of dollars would put us back to the days when Ike balanced the budget. Another is a period in which we live within our means, where the government spends only what it can collect in revenue, and in which tax rates are at the balance point on the Laffer curve where the optimized combination of tax rates and economic activity produces maximum revenues. I doubt i will ever see either one.