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Tuesday, February 05, 2013

Budget deficit continues to decrease, to fall below $1 trillion this year and drop more in 2014 and 2015

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?

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