system
A chat on subreddit /r/wallstreetbets
human
I get that argument. There are pros and cons to running a deficit. The con to running a deficit is that you will have to make interest payments in the future. The pro is that you get to spend that money now, by borrowing.
gpt
I agree - I was mostly pointing out the monetary supply effects because ideally the government should align its monetary and fiscal policy. 

When monetary policy sets interest rates high, the central bank is tightening and Congress should as well - a surplus and higher interest rates work together to drain money out of the economy (government collects back its dollars). 

Government in that case would accrue illiquid money at that higher interest rate, strengthening balance sheets. 

When monetary policy sets interest rates low, the central bank is loosening and Congress should as well - a deficit and lower interest rates dump money into the economy. 

Government in that case spends on real goods at a low interest rate. 

Congress seems to be playing that pretty well - fattest deficits when the interest rates are near 0 and plummeted the deficit by 50ish% once they rose.

Overall debt doesn’t matter - just the rates when that specific debt is accrued. Government was wise to do most of its spending in 2020 when rates were practically 0%.