Both the Administration and the Congress have chosen wisely to allow unified budget surpluses to build and have usefully focused on eliminating the historically chronic borrowing from social security trust funds to finance current outlays. The growing unified budget surpluses have absorbed a good part of the excess of potential private demand over potential supply.
A continued expansion of the surplus would surely aid in sustaining the productive investment that has been key to leveraging the opportunities provided by new technology, while holding down a further reliance on imports and absorption of the pool of available workers. I trust that the recent flurry of increased federal government outlays, seemingly made easier by the emerging surpluses, is an aberration.