crankymessiah wrote:
] ] Budget: The budget deficit is expected to jump to $450
] ] billion this year, causing some deficit hawks to warn of
] ] a growing "crisis." Sorry, but the crisis doesn't exist.
] ]
] ] Those who fear the deficit seem surprisingly immune to
] ] any lessons from history.
] ]
] ] For history shows that most of what we hear about the
] ] deficit is wrong. This deficit, in the truest sense,
] ] isn't a "record." It's not even close. This year the
] ] deficit will come in at about $455 billion, or 4.2% of
] ] GDP, which is the most meaningful way to measure spending
] ] gaps. How big is that? It doesn't even make the top five
] ] since 1980.

uh, it doesn't matter if it's a slim percentage of GDP. $450B is a lot of clams, and debt is never good.

RE: Fables Of Finance