PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: MKTBUZZ who started this subject	2/2/2004 12:21:06 PM
From: DuckTapeSunroof	Read Replies (1) of 769670

Smoke and Mirrors Deficit Claims: Re: "While the 2004 deficit is the largest in dollar terms, it is not the largest when measured as a percentage of total economic output. [Maybe it is!] The budget deficit forecast for fiscal 2004 is 4.5 percent of GDP, while the budget deficits of the 1980s were roughly 6 percent of economic output, a notion frequently cited by administration officials. Stan Collender, a budget analyst at Fleishman-Hillard, says that deficit as a percentage of GDP comparison is oversimplified. He says the comparison is apples-to-oranges, because the deficits of the 1980s did not include the so-called Social Security surplus. "So if you do an apples-to-apples comparison, that is take the Social Security surplus out of the current year numbers, (the current deficit is) about 6 percent of GDP, maybe even a little bit higher," Collender said. cbs.marketwatch.com{A585176A-4522-42CE-A133-E4626CCC8409}&siteid=mktw

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