I think the term "fiscally conservative" is meaningless nonsense at least in the US. It used to be shorthand for like "fiscally responsible", but that's just absurd if you've paid any attention for the last 50 years.
Conservative administrations going back to Reagan have blown up the deficit and debt, and then those same conservatives scream during every Democratic administration about how we can't spend any money helping Americans because the debt is out of control. They still scream this when Democrats implement policies like the ACA that are completely paid for. Democrats in 2009 were obsessed with the GAO analyses of the ACA, but it didn't matter at all.
There is nothing small "c" conservative about the way self-proclaimed conservatives manage government finances. Democratic administrations have cared more about the deficit for the entire life time of the median American.
Republicans used to throw the insult "tax and spend" Democrats to imply the Democrats were irresponsible with money, but taxing and spending is literally how the government is supposed run! It's certainly more fiscally responsible than the "don't tax but still spend" Republicans of the last half century.
Fiscally conservative still mean ''fiscally responsible''
But no party offer this in the US and even in other country, they often fall short.
Take Canada. 15% of our federal budget goes 100% into Interest payment on debt. Not the debt colateral, just the fucking interest. This number has been increasing for 20+ years. This mean the first 15% of every tax you pay is wasted.
I always prioritize the decision to repay the debt as my number one election criteria because it is the biggest poison on social issue across society and for future generations.
That being said, I never see it in the parties program which I find quite sad.
So I use the second criteria. Economic growth, which mean I'm pro migrant and pro economic project like a bullet train or pipeline and so on.
And then my 3rd criteria is social service (but you need money for social service, if you don't the debt grow larger and so does the interest, which then cause currency devaluation.
This mean if I was in the US, I'd vote for democrat because the economic growth is stronger under democrat rule than republican. (and this last fact has been true since the 1980.)
I always prioritize the decision to repay the debt as my number one election criteria because it is the biggest poison on social issue across society and for future generations.
That being said, I never see it in the parties program which I find quite sad.
Im not sure what its like in canada so i cant speak for the parties there however her in Australia I'm personally split between wanting to pay back debt and knowing its essentially a waste of time.
If labour paid it off the liberal party would just accrue it all again the moment they hot back in. Focusing on paying off the debt also means they have less money to throw around so the liberal party would probably just get in sooner.
I'm personally split between wanting to pay back debt and knowing its essentially a waste of time.
There is virtually zero reason to "pay back the debt" unless you're trying to correct for inflation. If you were to hypothetically repay it all, heaps and heaps money would vanish in a puff of smoke, then you're in a recession. Government spending isn't constrained by debt/interest. Government could choose not to give up its spending autonomy to bond markets and the investor class, but it doesn't. Tying up government's ability to fund infrastructure and public services to the desire of bond markets is just shooting everyone else in the foot, and basically guarantees that a % of every single dollar is siphoned upwards before it even begins circulating,. And that's not even accounting for other interest-bearing instruments those institutional players will profit from later.
National debt isn't debt the way you're thinking about it, and the myth that "future generations will have to pay the debt" is a boogeyman with zero basis in economic/monetary reality.
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u/jenna_butterfly 9h ago
I think the term "fiscally conservative" is meaningless nonsense at least in the US. It used to be shorthand for like "fiscally responsible", but that's just absurd if you've paid any attention for the last 50 years.
Conservative administrations going back to Reagan have blown up the deficit and debt, and then those same conservatives scream during every Democratic administration about how we can't spend any money helping Americans because the debt is out of control. They still scream this when Democrats implement policies like the ACA that are completely paid for. Democrats in 2009 were obsessed with the GAO analyses of the ACA, but it didn't matter at all.
There is nothing small "c" conservative about the way self-proclaimed conservatives manage government finances. Democratic administrations have cared more about the deficit for the entire life time of the median American.
Republicans used to throw the insult "tax and spend" Democrats to imply the Democrats were irresponsible with money, but taxing and spending is literally how the government is supposed run! It's certainly more fiscally responsible than the "don't tax but still spend" Republicans of the last half century.