The new conservative talking point:

There is a broad consensus among economists that large and persistent deficits slow economic growth by lowering savings and investment. Workers are less productive than they would be otherwise and have lower incomes. In fact, the recent run of stagnant wages is likely owed in part to inadequate investment in productivity growth due to high deficits, and thus low national savings rates, over many years.

This is literally 100% the opposite of correct. When the government has a deficit, the private sector (you and I) are able to save. Wages are not going up because we are not truly at full employment, and those that are employed are not able to ask for a raise because there are enough people begging for a job that employers will fire those that are employed in a second. Period.

Source: Conservative Intellectuals Have a New and Absurd Theory for Why Wages Aren’t Rising Faster