Deficits are falling. For now - Apr. 22, 2013:
Wow, the MSM is using deficit as a % of GDP, things must be REALLY bad! Of course, bad old me has always declared that a number without context is meaningless ... if I say 1 Billion, and it is the size of your bar bill, then that is on the large size. If it is the size of your hard drive, today it is minuscule, in the early '90s it would have been big ... etc.
The chart I included shows why they nearly never use it ... Because it puts things in context, and when all you want to do is beat on your "enemies", the Republicans, the LAST thing you want to do is put something in context!!
The very sad part of looking at my chart is to realize that the "trend was our freind" after the massive fix it took under Reagan to get the country moving again. The trend in deficits as a % of GDP was generally DOWN ... because of GROWTH! When the economy sputtered, another wave up happened, but when it grew, we produced revenue that allowed the trend to continue DOWN!
YES! That is very much a "rosy view", so shoot me. It would have required continued pro-growth policies, difficult entitlement reform like Newt and company pushed through in the late '90s, etc, BUT we HAD A FUTURE!!
CNN's chart leaves out historical context and is "rosy and on LSD". They would like to believe that some "minor BO tweaking" to entitlements will right the ship, but the real problem is the anti-growth for anything but Government agenda. Government is an EXPENSE!
The chart in the story is made as rosy as possible because of projections. Even 2013 is PROJECTED on that chart, and I'd like to see the date from 11 and 12 show up on the site I got this from http://www.usgovernmentspending.com/ They even mention SIXTY YEAR HIGHS in the article, wow, CNN must be off their propaganda feed this fine Monday AM!
'via Blog this'