Monday, June 21, 2010

The Federal Deficit, Sourced

The lesson of this graph seems pretty clear: if you want to avoid running a deficit, don't have an economic downturn; don't pick exorbitantly expensive overseas wars; don't spend massive sums propping up private firms; if these happen, don't undertake a large-scale public spending program to revive the economy; and above all, don't combine all of this with enormous tax cuts.

Apart from all that, it's really anyone's guess.

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