Deficits are archaic

  All money today is legal tender. There is nothing backing the money you hold in your wallet. In 1933 when the us government ran budget deficits to finance the New Deal, americans rushed to their local banks to exchange their dollar bills for gold. The government gave one ounce of gold for every 35 american dollars to american citizens. A concept that is completely foreign to modern people today

  So many people rushed to get their gold that in 1933, Roosevelt refused to deliver gold in exchange for usd and passed an executive order confiscating gold from people's homes. Today, americans have no clue how the monetary system originally or was intended to work. The gold price today isnt 35 dollars an ounce. Its 1300, 1400, or whatever investors and speculators want the price to be. The government does not care if the price goes up or down. Because the government is no longer obligated to give one ounce of gold for every 35 dollars. The government is not even obligated to give you gold for 1400 or any price. So long as you keep using legal tender for your daily transactions, the state does not need anything else from you.

 There is no incentive to treat government notes as money unless the government was willing buy back those notes with ounces of gold. But that relationship has not existed for almost a hundred years. Today, the only reason you accept government notes as money is because its the law. And thus, budget deficits are an archaic concept leftover from the glory years when only gold was money and nothing else.