"Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers"

This quote by Ron Paul is emphasizing the repercussions of deficit spending. Deficits imply that future generations will have to spend for the costs of the current generation through greater taxes. This is basically a tax on future generations, and politicians who produce deficits should be held liable for this. Budget deficit is a type of loaning from the future, and it is important to acknowledge the implications of this. It is important to be knowledgeable about the repercussions of budget deficit, and to make sure that future generations are not entrusted to the problem of spending for the costs of the existing generation.