You believe that maintaining fiscal responsibility by not spending more than the government's revenue will lead to economic stability and reduced national debt.
The "Balanced Budget" political ideology is a fiscal policy perspective that emphasizes the importance of maintaining a balance between government revenue and expenditure. This ideology argues that governments should not spend more than they earn in revenue, and if they do, they should take steps to reduce spending or increase revenue to balance the budget. The primary goal of this ideology is to prevent the accumulation of public debt and the potential economic consequences that can result from excessive borrowing.
The history of the Balanced Budget ideology can be traced…
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Why might the goal of a balanced budget feel different for someone who's experienced financial hardship?
@9JBR3N61yr1Y
Money is necessity of life, nothing can be possible without it.
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Can you describe a moment when you felt the satisfaction of saving money for something big?
@9J2STFJ1yr1Y
I felt the satisfaction of saving something big when i was finally able to buy a new tv that i've been saving up for three month's.
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When is it acceptable for you to go into debt, and how might these reasons compare to a government's reasoning?
@9HS4L6F1yr1Y
It is never acceptable to go into debt, the government needs to manage the amount of spending it provides, we need to focus on reducing the national debt, so that we don't have to deal with a recession.
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What experiences have you had that show the benefits or drawbacks of financial borrowing among friends or family, and how might this relate to national debt and lending?
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