The huge deficits we have been running the past 4 years were largely the result of the economic downturn and other longer-term economic trends.
It began to reverse itself after the recession ended and was accelerated with some of the fiscal compromises, even though they came with a heavy price, including a downgrade of credit and slower economic growth.
CBO: Deficit to drop below $1 trillion
Deficit obsession has hurt the recovery
Given this trend, wouldn't it make more sense to make job creation a higher priority than more immediate deficit reduction?
