Governments cannot run deficits in excess of the growth in GDP without eventual consequences.
The feds will probably run deficits in excess of a trillion a year even if they make those cuts.
Exploration and production companies often run deficits and live hand to mouth trying to raise funds to do more exploration.
Financial markets seemed happy to provide the money to allow countries to run deficits on both the fiscal and trade accounts.
The government had run deficits for so many years that most people had all but given up on the idea of balancing the budget.
Lower rates, print money, run deficits, and hope sustainable growth follows.
And, it bears repeating, since states and cities are not supposed to run deficits, it is at these levels that most progress has been made in restoring public finances.
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But local and state governments cannot legally run deficits.
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Whether we should run deficits is a much more complicated question. (The following borrows heavily from a terrific paper by Doug Elmendorf and Greg Mankiw.) We should borrow to finance investments that will pay off over time.
How the above works in practice is that most of us run trade deficits with our landlords, clothiers, restaurants and appliance stores, yet we finance those alleged deficits with the surpluses we run with our employers.
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Since that time, America has run trade deficits for all but some 50-odd years.
And with East Asia, unlike with Europe and America, China tends to run trade deficits.
At present, the EU can only punish states which run up deficits above an agreed 3% ceiling.
It was the first period in American history when we had ever run structural deficits of any size.
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Several countries run trade deficits that they can sustain only because they get aid and remittances from abroad.
Jamaica has run fiscal deficits in 44 of its 50 years of independence.
This is why it is necessary for the government to run large deficits.
Trusts which run up deficits often have deep-rooted, long-standing problems that cannot just be solved by a little management consultancy.
If the program is expected to run annual deficits, as it is today, those deficits exist only until the borrowing limit is reached.
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So the flexibility usually enjoyed by a sovereign country to run budget deficits in a recession to counterbalance the business cycle is virtually nonexistent.
The trouble is that, in theory at least, if several governments were to run bigger deficits, they could each decide not to punish the other.
France, which has run budget deficits since 1974, is adopting austerity.
But unlike the federal government, health insurers can't run perpetual deficits.
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Investors will have it in mind during the next boom that governments will rescue the largest banks, slash rates, intervene in the markets and run huge deficits.
With supplies continuing to fall and demand swelling on growing reactor-counts worldwide, the market will begin to tighten in the medium-run as deficits grow and become substantial, providing upside for uranium producers.
This would mean countries would be allowed to run bigger deficits in a recession - helping the recovery - but would have to keep a tighter control of spending during the boom years.
This created a demand for Treasury bonds that was in excess of their economic merits, possibly leading the U.S. government to run larger deficits and thus issue more bonds than it would have otherwise.
It is those attributes that have historically allowed countries with gold-defined money to run up large deficits.
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After the initial 10-year budget window, CLASS will run up big deficits.
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The realists think they can engineer a recovery by more central planning, forcing whole economies to run surpluses or deficits as their theories suggest.
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