How OECD countries live beyond their means by running government budget deficits year after year

Most of the member countries of the OECD show lots of red ink  for most of the years since 2020.

Just take the U.S. as an example from 2008-2021, the government deficit was on average over -8% of GDP per year. This is totally unsustainable!!!

Balanced government budgets or government deficit reduction are largely ignored by our elected representatives! 

You wonder why there is now high price inflation in many countries! Don't just blame the Covid-19 pandemic or Russia's war of aggression against the Ukraine!

It is high time that our lifetime career politicians change their priorities as far as government spending is concerned! More frugality and more focus on priorities please!

Source: General government deficit Total, % of GDP, 2000 – 2021