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http://news.investors.com/blogs-capital ... war-ii.htmU.S. Deficit Shrinking At Fastest Pace Since WWII, Before Fiscal Cliff
http://www.investors.com/image/WEBcaphill01_1120_600.gif.cms
Source: Office of Management & Budget /
Believe it or not, the federal deficit has fallen faster over the past three years than it has in any such stretch since demobilization from World War II. In fact, outside of that post-WWII era, the only time the deficit has fallen faster was when the economy relapsed in 1937, turning the Great Depression into a decade-long affair. If U.S. history offers any guide, we are already testing the speed limits of a fiscal consolidation that doesn't risk backfiring. That's why the best way to address the fiscal cliff likely is to postpone it.
While long-term deficit reduction is important and deficits remain very large by historical standards, the reality is that the government already has its foot on the brakes.
In this sense, the "fiscal cliff" metaphor is especially poor. The government doesn't need to apply the brakes with more force to avoid disaster. Rather the "cliff" is an artificial one that has sprung up because the two parties are able to agree on so little.
http://blog.ourfuture.org/20130226/defi ... -know-thatDeficit Is Falling Dramatically, But Only 6% Know That
There is no deficit problem. The deficit is down about 50 percent as a share of gross domestic product just since President Bush’s fiscal year 2009 deficit and is falling at the fastest rate since the end of World War II. Yet the Washington debate is about how and where to cut us back into recession. Why?
Congress should just repeal the sequester – we don’t need it. We have 10 years to fix the long-term deficit situation. We should not be stampeded by deficit-scare propaganda and instead take the time to carefully consider the right approach. That way we won’t make the mistakes that Europe is making.
Deficit Falling
Here is a chart of the deficit as a percent of GDP: (Data sources below)
Deficit as percent of GDP / Based on chart from Office of Management & Budget
Once again, because it might be hard to register due to the drumbeat of deficit-scare propaganda, this is a fact: the deficit is falling at the fastest rate since the end of World War II. It is down about 50 percent as a percent of GDP just since Bush’s huge $1.4 trillion fiscal 2009 deficit. And the deficit is projected to be stable for a decade.
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navycpo7 wrote:
Blazer Bob wrote: OT,
Gonzo station. I was PacFlt so I spent a lot of time there. Some squid wrote a song, "Gonzo Station Blues" I think. Thought I had it on cassette but have no idea where to look. Anyone remember it and know where to get it? I tried google but scratched.
114 days underway and our first liberty port, Perth Australia
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Blazer Bob wrote:
navycpo7 wrote:
Blazer Bob wrote: OT,
Gonzo station. I was PacFlt so I spent a lot of time there. Some squid wrote a song, "Gonzo Station Blues" I think. Thought I had it on cassette but have no idea where to look. Anyone remember it and know where to get it? I tried google but scratched.
114 days underway and our first liberty port, Perth Australia
Did you get your underway beer break or were east coast O's too pucker butt?
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LadyJazzer wrote: Of course, that's not what the second graph shows, but since you're in the Fact-Free-Zone, that's hardly a surprise...
Now tell me again about the "TWO BILLS! from the 112th Congress that haven't been voted on by the 113th Congress"...I'm still waiting to find out how that works....
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