December 10, 2014
WHAT SHALL WE DO WITH THE SURPLUS?:
Budget Deficit in U.S. Narrows as Employment Growth Accelerates (Jeanna Smialek, Dec 10, 2014, Bloomberg)
Cutting military spending in half wipes out the deficit and gets uis back towards historic defense levels.The Treasury in October said the shortfall in the 12 months ended Sept. 30 was $483 billion, or 2.8 percent of gross domestic product, and the Congressional Budget Office said in August that it expects the deficit to shrink to 2.6 percent of GDP this fiscal year."The trend is toward smaller and smaller deficits," Paul Edelstein, U.S. economist and director of financial economics at IHS Global Insight in Lexington, Massachusetts, said before the report. "The improving economy is boosting tax revenues."
Posted by Orrin Judd at December 10, 2014 5:33 PM
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