Remember back in
2009 when the fiscal conservatives were scaring us by saying the
budget deficit would ruin the nation. The stimulus and bailouts were
just starting to work to right the nation's economy and the Tea Party
was born.
The adult
professionals were advising us that the end result of pumping money
into the system would slowly but surely turn the economy around and
the deficit would decline.
After the deficit
peaked in 2009 at 9.8% of GDP*, a slow but steady increase in
revenues has resulted in a 2014 deficit of 2.8% of GDP. The average
deficit for years 1980-2008 was 2.5%
*The
monetary value of all the finished goods and services produced within
a country's borders in a specific time period, though GDP is usually
calculated on an annual basis. It includes all of private and public
consumption, government outlays, investments.
Paul
Hunter paulhunter45177@gmail.com
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