Wednesday, October 08, 2014

Out of control federal deficit? Not so much.

Here are the facts from the Congressional Budget Office on the federal budget deficit that every Republican in America says is spiraling out of control: 

"Relative to the size of the economy, that deficit—at an estimated 2.8 percent of gross domestic product (GDP)—was slightly below the average experienced over the past 40 years, and 2014 was the fifth consecutive year in which the deficit declined as a percentage of GDP since peaking at 9.8 percent in 2009."

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