The marketing campaign that made everyone fear deficits was a brilliant one. Politicians have been using that fear to fake economic policies ever since then, to the detriment of everyone. One of the favorite comparisons out there regarding the budget of any country is the one to the household budget. Different candidates wax poetic about the importance of living within one’s means and how the same rules must apply to a country and so forth and so on.
The idea of living within one’s means is one that often gets trotted out to “teach” poor people not to be poor, under the mistaken belief that the poverty is the fault of the people living within it.
Like any person actually living in poverty will tell you, it’s not really about not spending money you don’t have, but making sure that such expenses pay dividends. No one lives within their means, except for the very poor. For everyone else, there are credit cards, mortgages, financing, and so forth. All of which are examples of spending more than you make.
It’s the very poor, who don’t qualify for those loans, people on disability, on welfare, homeless people, who live entirely within their means because they don’t have the privilege of not doing that. Where the problem arises is that “within their means” does not equate to “while having the basic necessities needed for survival”.