Time to Get Serious About the Deficit
Balanced
0 Total Slants
Slant this
Slant Totals
0 Left 0 Centered 0 RightI don't need to tell you what I think of the budget: it's disastrous. The minimum projected budget deficit for the next 10 years is 2.9% of GDP in 2018. Now, 2.9% of GDP is--just barely--sustainable; it's about the maximum deficit that we can run and not drive the government's fiscal ship onto the rocks. But when that's the best you can do--when you're only getting that low at the tip-top of the business/tax cycle--you're in deep trouble. What happens when there's another slowdown?