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Message: <blockquote data-quote="Deleted member 371625" data-source="post: 1481691">'Smoothing out peaks and troughs' can be doe to some extent though has never been tried. It involves running a surplus during a period of growth which gives spare cash to cut taxes and in a deficit when there is a recession. Never been tried as any government will continue to run a deficit during periods of growth leaving ' no money left' when the inevitable downturn occurs.Imagine what the media would say if a government were running a surplus (i.e. not spending all the taxes they received) when there were queues in A&E and some people using food banks etc. Unfortunately the gov at the time would rapidly find a surplus politically impossible.Credit cards are great at providing some wiggle room if your finances take a downturn, but spending up to the limit during good times leaves 'no money left' when it is needed.</blockquote>

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