With the government’s budget year having concluded at the end of September, the Congressional Budget Office now estimates that
the deficit for 2014 was 2.8 percent of G.D.P., down from 4.1 percent
last year. The deficit is now smaller than its average over the past 40
years of 3.1 percent.
It is now projected to be smaller in President Obama's second term, on average, than it was during President Reagan's second term. But the public perception is that the deficit is still a big problem.
The Federal Budget Deficit Is Back to Normal - NYTimes.com
I think this article is very optimistic about our current deficit. With the videos we watch from our class, I think it is a big difference between being optimistic about a situation and hiding the real truth about it. The society deserves to know the real truth about our deficit, instead of being now knowing the real situation.
ReplyDeleteYes, the deficit has been reduced under Obama's administration. I don't think this means we can now ignore it. If anything it means we should be under higher levels of scrutiny. We should investigate what Obama has done, i.e. what policies have been implemented to reduce the budget deficit. We can use certain statistics to our advantage when making any point. For example, this article mentions the deficit in terms of GDP, but if we look at other factors such as the deficit in terms of real dollars or even nominal dollars, we are likely to see an increase over time.
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