The budget deficit as compared to the GDP is not a meaningless statistic. Are you saying that if the deficit were 20% of GDP instead of the current 1.9% that it would make no difference? Not a single economist would agree with you there. Economists have said that a sizable deficit is manageable when an economy experiences strong growth. And we've had strong growth over the last 3 years. Our deficit has decreased by over 150 billion over the past two years, and the fact it is only 1.9% of GDP is a significant stat indeed.
"The budget deficit as compared to the GDP is not a meaningless statistic. "
Yes, it is.
" Are you saying that if the deficit were 20% of GDP instead of the current 1.9% that it would make no difference?"
Let me put to you this way: your company's revenue stream increased this year and your CEO ran up his credit cards to the max and is only able to make the minimum payments. Now, saying that the CEO's deficit is only 2% of the Company Domestic Product is sort of meaningless, isn't it? It's the same thing. The revenue of the country is NOT the revenue of the government.
Let's not even bring up what this is doing to the DEBT. Up $2 trillion from 6 years ago.
"Not a single economist would agree with you there. "
Quite a few would agree that this is a meaningless statistic.
http://www.mises.org/freemarket_detail.asp?control=435&sortorder=articledate