Now, a case could be made that Obama could do more about long-term deficits. Just to be clear, though, Obama's proposed budget does not increase the medium or long-term budget deficit. His budget would actually reduce deficits by $1.25 trillion over 10 years, compared to what they would be by continuing current policies. Under his budget, spending is scheduled to fall a bit from 24.7 percent of GDP in 2009 to 23.7 percent in 2020. Obama probably pushed the limits of what is politically possible at this point. Notice that the President's deficit (red line) is lower than current deficit projections. Alas, I doubt he will get any credit for this.
2 comments:
Exciting? We have very different definitions of "exciting."
Post a Comment