Your Economy (No Politics)

[ChrisJP]

The theory they went by was to spend money when needed to help the economy when needed but save when not so the money would be there when needed. Trouble was the spending never stopped and the saving never happened. Hence the troubles we're in now.

Absolutely correct. I will say, that under Reagan, most of the deficit spending went to investment which paid off. Unfortunately, once it was clear how much deficit spending the govt could get away with, they became addicted to it - to ensure their re-election.