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Politics : Don't Blame Me, I Voted For Kerry
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To: CalculatedRisk who wrote (943)2/6/2004 2:17:24 AM
From: Lazarus_Long of 81568
 
I cite Table 1.1 here.
w3.access.gpo.gov
Adding up "Surplus or Deficit(-)" from 2001 to 2005 (Bush's first term), a cumulative deficit of $850B is obtained- -well short of the $1.5T claimed by AS.

Let me point out something else. In 1943 the gov't ran a deficit that was -227% of GDP. In 1976 it ran a deficit that was -25% of GDP. In 1983 it ran a deficit of -35% of GDP. In 2002 it ran a deficit of -1.5% of GDP. In 2003 it looks like -3% of GDP. If current projections prove true (always a risky proposition), that will be the high point. For a nation that is basically in a state of war, these numbers are commendable.

GDP figures are from the St. Louis Federal Reserve Bank.
research.stlouisfed.org
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