Here's a thought-provoking article, detailing the falsehoods of the Republicans' fiscal claims:
So let’s review. The GOP is advancing three crucial lies: that we have to balance the budget; that public investment at this point is irresponsible; and that if we do slash spending and balance the budget, jobs will come. It’s all nonsense. In fact every assertion is the exact opposite of the truth.I find the arguments compelling, especially to the extent that they mesh with what I've been saying here. The author writes for "Democracy: A Journal of Ideas," which is well-regarded by liberals and conservatives alike. As one who admits to little economic expertise, I've tended to like the idea of a balanced budget. Among other things, the above article references this report by the Congressional Research Office, which makes the case that deficits are sustainable when below a certain percentage of the GNP. In that I'll defer to people more knowledgable than me.
But the rest of the article seems pretty uncontroversial: it says, as have I, that it's not a balanced budget that creates jobs; it's the other way around. Same with government spending and jobs. It seems pretty intuitive.