Balanced Budget Balanced Budget Thomas Jefferson stated, "I place economy among the first and most important virtues, and public debt as the greatest of dangers. ... Maintaining a budget deficit, on the other hand, drastically hurts the stability of the U.S. economy. ... "Thus, while the public sector's saving performance has improved mightily in recent years, America's household savings rate has plummeted to its lowest level in 39 years "leaving the U.S. still highly dependent on foreign capital (Koretz 1). ... s "net foreign debt was more than 1 trillion and was increasi...

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• Approx Pages: 7
• Grade Level: High School