Editorial February 25, 1985 Issue

Is there a way out of deficits?

WILLIAM E. MOODY

Sometimes it would seem that deficits are beyond control, too big to handle, subject to outside influences we can't possibly do anything about. National economies are in serious danger, and many people feel caught on a financial treadmill where they are always running to catch up but continually falling short. The effects on human progress can be debilitating.

But are we really helpless as individuals and so required to rely solely on political policies or human institutions to provide a solution that may at best be only temporary?

No, there is something truly substantial that each of us can contribute. Certainly we all have the opportunity to exercise proper economy in the use of our own resources. And this includes guarding against extravagance as well as maintaining faithful stewardship over what we have. But we also need to be willing to recognize that shortages—whether they occur at the national level or in one's own family budget—are really symptoms of deficit thinking.

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