“The federal deficit dropped by 350 billion this year to 650 billion from over 1 trillion.”
No, it hasn’t. It has only been postponed due to no budget, but the spending has still happened, it just isn’t on the books.
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no the deficit reduction is real because of higher taxes and higher revenue generated by a growing economy. this growth in the economy has already turned blue state government budgets like California back into the black.
That, and do you really believe $650 billion is healthy? “Gosh, we beat you less this time, comrade, why so glum?
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No 650 billion is not healthy. However, if the deficit keeps declining at a pace even remotely like it has in the last year —then it will quickly return to normal ranges.
Obama will have had nothing to do with the balanced budget. It will all be about a growing economy—mostly in the oil patch—and the caps on spending imposed by the republican house.
Pretty much the same thing happened in the late 90’s. Clinton’s best brag is that he balanced the budget. Yet a balanced budget happened despite his best efforts not because of of. The growing economy produced the revenue and Newt kept the federal spending in check.
“However, if the deficit keeps declining at a pace even remotely like it has in the last year —then it will quickly return to normal ranges.”
You must be 18 and without any knowledge of economic trends to think one year makes for a trend.
P.S. It hasn’t even been but 3/4 a year and you and Obama are proclaiming a reduced deficit for an entire year. Obama is king of “revised” numbers. Get back to us in January after the year is complete and let’s see how reduced his numbers turn out. Just like his unemployment numbers, always reported to his favor and always revised against him later when no one is looking.