match with the statement:
the deficit for fiscal 2015 is the lowest since 2007. We only overspent by $439 billion in fiscal 2015, compared to a $161 billion deficit in 2007.
Maybe you could say that the deficit is lower than during the fiscal crisis, but not lower than before the crisis.
The latest 2015 budget deficit is -$439B and in 2007 it was -$161B. OK, so that’s “lower” but not in the way we want. The latest def/GDP has 2007 at -1.1% compared to 2014 -2.8%. I guess they made up some nice big number for the 2015 GDP, a fantasy that could generate a super low number for 2015.
Annual deficits since 2007:
2007 $161B
2008 $459B
2009 $1413B
2010 $1294B
2011 $1299B
2012 $1100B
2013 $680B
2014 $492B
2015 $439B
2016 $474B (proj.)
(http://www.davemanuel.com/history-of-deficits-and-surpluses-in-the-united-states.php)
2007 deficit to GDP is 11%. So the deficit/GDP percentage is less in 2015.
But that is just one tree in the forest. These people get stuck staring at one tree until they are so cross-eyed they think that fuzzy thing they are looking at is the whole forest. There are a lot of trees in the forest of problems created by 18+ trillion in debt.
Trump is THE ONLY candidate talking about the debt.
. . . but given the wealth of this nation, absolutely criminal that we have them on a regular basis.
Then again, perhaps the point has been passed that the debt is so large that it will destroy the nation and the society no matter what so we might as wil\\ell pile it on and get what we can for today because there is no financial tomorrow or rather tomorrow, when it comes, is financial extinction.
What would it have been if interest rates were, say, 2%? Don’t expect the MSM to report on that.
The total debt-to-GDP ratio is 73% based on federal debt that is held by the public
Our debt is presently somewhere between 110% and 120% of GDP.
In Korea, the finance ministry is presently sounding the alarms because they are concerned that their national debt may rise from 30% to 40% of GDP in the next several years. They say that would structurally damage the economy and are calling for spending cuts and fiscal austerity.
Korea’s problem is minor compared to what Obozo has done to us.
The 2007 budget was the last GOP budget before Pelosi began writing them. The 2008 deficit was the first Pelosi/Reid deficit.
Actually, Pelosi added $37 billion to the 2007 deficit after she took control in January 2007. It would have been less than $130 billion if the GOP had not been turned out by the voters in the 2006 election. It’s a good example of how GOP disunity usually ends up badly.
That kis as good of news like losing a hand instead of a hand and a foot.
Why celebrate tragedy?
The real fact us we are going more and more into debt and doing nothing about it.
Once higher interest rates make servicing the debt untenable, we will be like Argentina, and have lost the semblance of the country we live in.
Fracking