The budget’s stability condition is whether debt as a share of the economy stays bounded. Deficits themselves are not the danger — they are the ordinary fluctuation term, appropriate in recessions and wars. The danger is the boundary case in which interest costs compound faster than the economy grows. Then debt service crowds out every other priority, and the fluctuation stops being self-correcting. Like an off-line zero or an unserviceable debt load, it grows without a natural ceiling.
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