Conservatives are dead wrong on this point and, indeed, the opposite is actually true -- you can't save your way to prosperity, since you're never going to be able to save more than you make -- or at least, figuring in interest, not much more. It's a case of Republican talking points contradicting other talking points; you can't spend your way to prosperity, but successful people are "risk takers" who put money on the line to get things done. One the one hand, conservatives praise entrepreneurs, on the other, they argue that entrepreneurial efforts are obviously doomed and only a fool would believe that you can spend money to make money. No wonder people who listen to talk radio make no sense at all when they start talking about economics. It's all a muddled mess of contradictory propagandizing with no real connection to how things actually work.
All of this started bouncing around in my head when I read this:
The Hill: The federal budget deficit for fiscal 2013 was $680 billion, the Treasury Department reported Wednesday.
This is the first time that the deficit has fallen below $1 trillion during President Obama's time in the White House.
The deficit has dropped $409 billion from 2012, when it was $1.089 trillion...[CLICK TO READ FULL POST]