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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: E. T. who wrote (25956)	2/11/2008 11:44:42 AM
From: TimF	Respond to of 71588

The issue there isn't the tax cuts (which where quite manageable with even moderate restraint on spending) but the very large growth in spending. Don't we have the largest deficit on record now? I think so (not now but looking at the projections for the next year), but only by an almost meaningless way of measuring deficits (nominal dollars). I don't think we have the largest deficits in real dollars, and the deficits aren't all that unusual in terms of percentage of GDP (2007 deficit was lower than average for the last few decades, 2008 will probably be higher than average but no where near a record).