Why federal deficits are necessary.

Why federal deficits are necessary.

You often read and hear warnings about the federal “debt” and “deficit.” Let me assure you that you do not owe any part of the federal “debt, ” and your taxes will not be raised to pay the federal “debt.” You have seen articles where the so-called “debt” amounts to a certain number of dollars per American taxpayer, implying that the federal “debt” is your debt. It isn’t. You don’t owe it, and you will never pay it. In fact, that thing called “fe…