Second, deficits and debts mean just about nothing anyway -- at least out of context. In 1945, the federal debt was 120 percent of the entire U.S. economy. Yeegads! Yet only a few years later, the debt as a proportion of GDP had been tamed -- and not primarily because of cuts in government spending. Yes, of course, wartime spending ended. But the big change was in the denominator of the equation. Economic growth kicked in big time, and reduced the debt as a proportion of the economy to manageable levels [Robert Reich, "Don't Succumb to Deficit Hysteria," Robert Reich's Blog, 2009.08.25].
As a matter of fact, Reich actually thinks the deficit needs to be bigger. I kid you not: with the economy still sluggish, Reich says we need to pour on more government spending to get people back to work. Uff da! Sing yourself to sleep with that one, and tell me what you think in the morning!