As I have explained here many times, it is impossible for the US to default on the debt (because it is denominated in dollars), deficits create private sector wealth (while surpluses reduce it), and we NEED the government to supplement aggregate demand so that we can generate output and employment to our potential.

FORBES: What Obama Should Say (But Won't)

It is clear the economy could employ more people and generate more output without endangering a pick-up in inflation.

FORBES: Krugman versus Wapo: Why Slow U.S. Growth Could be the New Normal

About 40% of the population works on farms, but they generate only 20% of national output.

FORBES: The Ronald Reagan of the Pacific

Working unexplored oil basins and paying a modest 20% royalty to the Colombian government, those ventures now generate 10% of Lewis' output.

FORBES: Magazine Article

The world is using less oil today to generate electric power than it did in 1973, despite output almost trebling to 17.5 billion watt hours of electricity, from 6.1 billion WH.

FORBES: Magazine Article

Yet often when the output from these teams is examined, few actually generate measurable results.

FORBES: Ask for Results Instead of Reports

Thailand, whose gdp ranks in the world's top 40, will generate more wealth as it moves up the value scale in its output.

FORBES: A Mightier Baht

Its operators told the visitors that its purpose was to generate nuclear fuel but no one missed the message that its output could just as well be used to make warheads.

ECONOMIST: Conflict on the Korean peninsula

As construction proceeds, the difference between the price of gas and the price of electricity widens and narrows, giving Duke the opportunity to sell more of the expected output if the price rises or sell output in future years to lock in profits on electricity it has yet to generate.

FORBES: Trading Places

The first looks at output (number of widgets, billable hours, service calls, whatever) per dollar spent to generate it.

FORBES: The Truth About Productivity