SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : IMPEACH GRAY DAVIS!
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: American Spirit who wrote (507)7/19/2003 12:39:09 PM
From: Glenn Petersen  Read Replies (2) of 1641
 
Apples and oranges. California has a legal requirement to balance its budget; the federal government does not.

A $455 billion deficit is equal to approximately 4.3% of GDP. While that is in the high range of our historical experience, it is by no means a record. The deficit was 6.0% of GDP in 1983 and Clinton had deficits equal to 4.5%, 4.7% and 3.9% of GDP in fiscal years 1991, 1992 and 1993, respectively. Large federal deficits are not exactly the end of the world. You will find the historical numbers in Table 11:

cbo.gov
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News