I don't believe that deficit spending should be allowed. This is a totally irresponsible way of handling money, especially for government officials. Private Citizens who spent money that they didn't have consistently would never be trusted with things like loans anymore. Politicians need to be responsible with money and plan for what they need.
Unemployment.
Unemployment is a serious issue. Since having a job is a serious role in peoples lives and unemployment has a great deal to do with the economy. If there are a lot of people without jobs out there, then those people probably aren't going to have enough money to play their role as the consumer and keep money circulating through the economy. I believe it is the government's job to keep an eye on the economy and help take care of it. It's hard for society to flourish and people and businesses to be successful.
Taxes.
I believe taxes are necessary for social programs. Taxes do not need to be lowered but they need to be higher. Our nation has a high debt and by raising taxes we may be able to get out of debt. Also the wealthy people need to be taxed more because they have more to give than someone that is unemployed. Higher taxes will help our nation overcome its hard times and eventually we will be able to return to lower taxes.