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Politics : American Presidential Politics and foreign affairs
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To: i-node who wrote (70829)10/30/2014 1:07:18 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Deficits have DECLINED for every single Obama budget year.

(While they increased for many of the earlier Bush II years leading up to the great crash.)

Recovery after financial collapses (down throughout history) has always taken an average of at least TWICE as long as recovery from 'normal' business cycle recessions.

The recession is long over now however it will probably take until close to the last year of Obama's second term before the annual deficits are gone.

The GOOD news though on the federal deficit front is that the annual federal deficit now is AT OR BELOW THE AVERAGE (as a percent of GNP which is how deficits are measured) of what it has been over the last 50 years.

So... as percent of GNP we are back to 'average' now, and still continuing to improve.
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