According to https://www.usdebtclock.org/"Our Constitution is in actual operation; everything appears to promise that it will last; but in this world nothing is certain but death and taxes." Benjamin Franklin
We're over $31 $Trillion in U.S. federal debt.
According to https://www.census.gov/
the U.S. population is 333+ million.
By my math that means the U.S. federal debt per capita is over $93K per U.S. citizen. Subtract all the adorable infants whose net worth is three figures or less, subtract the homeless, the prisoners, and all others that can't afford to pay $93K, and the cost of the U.S. federal debt per citizen that could afford to pay their share of it may be a $quarter $mil or more.
Not good.
Deficit means how much more we spend, in excess of revenues, for any one year.
Debt is the accumulated deficits, plus interest, & other financial liabilities.
What President GWB called "tax cuts" wasn't.
Since the U.S. federal budget was already in deficit, Bush's "tax cuts" were actually tax deferrals, passing along $money we spent then, for the grandkids to pay back later. Unfortunately for them, they'll not only have to pay their own way. They'll have to pay part of our way too.
"Tax cuts accounted for only about 25% of the deficit." U.S. Vice President Richard Cheney, Sept. 14, '03
It all adds up.
"There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt." John Adams
How important is balancing the budget? Not that big of a deal?
Is there a reason when congress (& the president's signature) turns a bill into law, that congress should also include in that legislation, or at least along with it, legislation that provides full funding for its implementation?
Is a "balance budget" amendment to the U.S. Constitution a bad idea?