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Politics : View from the Center and Left

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To: Dale Baker who wrote (15139)3/30/2006 9:29:55 PM
From: TimF  Read Replies (1) of 541966
 
The new rationale for deficits is that they are "within historical norms" as a percentage of GDP, and they are smaller than some other western allies on a GDP percentage basis.

As a rationale, i.e. reason for, the deficits that doesn't make much sense. But as information to put the deficits in to perspective its somewhat useful. An an explanation of why there is no need to panic about the deficits it makes sense. OTOH these facts do not mean that unending deficits are good.
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