The Rapidly Shrinking Federal Deficit

http://economistsview.typepad.com/economistsview/2013/04/the-rapidly-shrinking-federal-deficit.html

by Mark Thoma, economistsview.typepad.com
April 11th 2013 9:10 AM

Calculated Risk:

... It shocks people when I tell them the deficit as a percent of GDP is already close to being cut in half (this doesn't seem to ever make headlines). As Hatzius notes, the deficit is currently running under half the peak of the fiscal 2009 budget and will probably decline further over the next few years with no additional policy changes.