Deficits resulting from capital spending, by contrast, are – or can be – good. If wisely administered, such spending produces a revenue stream that services and eventually extinguishes the debt; more importantly, it raises productivity, and thus improves a country’s long-run growth potential.
因经常性服务和转移支出引起的政府赤字是坏赤字，因为它们不能产生收入流，而且会导致国民债务增加。反之，因资本支出引起的赤字是——或者可以是——好赤字。只要管理合理，这类支出可以产生收入流，从而维持并最终消灭债务；更重要的是，这类支出提高了生产率，从而提升了一国的长期增长潜力。