"U.S. deficit falls to $680 billion"

[applegrove]

U.S. deficit falls to $680 billion

NEW YORK (CNNMoney)

http://money.cnn.com/2013/10/30/news/economy/deficit-2013-treasury/index.html?hpt=hp_t2

"SNIP.............................


The federal government's latest annual deficit is the smallest it's been since 2008, according to Treasury Department data released Wednesday.

At $680 billion, the fiscal 2013 deficit is 51% less than it was in 2009, when it hit a record high nominally of $1.4 trillion.

As a percent of the economy, it's also considerably smaller than it's been in the past five years, coming in at 4.1% of gross domestic product. By contrast, the annual deficit in 2009 topped 10% of GDP. And last year it was 6.8%.

................................

Several factors have contributed to the strong improvement in the nation's near-term fiscal picture. They include an improving economy and a mix of fiscal restraint -- primarily, the expiration of stimulus measures, the imposition of across-the-board budget cuts known as the sequester, and tax increases on high-income households during the 2013 fiscal year, which ended September 30.



.............................SNIP"

[applegrove]

1. Increasing taxes is the right thing to do.

[kentuck]

2. Nothing to brag about.

Still larger than any deficit by Reagan or Bush, Sr...

[exboyfil]

4. Under Reagan it got to nearly 6% of

GDP. Under Bush Senior it got to nearly 5% of GDP. Even before Bush Jr. ran it up to 11% of GDP he had a prior period of two years at 3.5%.

[trumad]

5. Wow---you're reaching back.

He cut the deficit by half... I think its something to brag about.

[strategery blunder]

6. Where's that bumper sticker...

Bush had 8 years to create this mess
So I'm giving Obama 8 years to clean it up!

[Liberal_in_LA]

3. kick