The Federal Budget Deficit has Dropped over 70% since 2009.
Did you hear what I just said?
A 70% drop!
Here is a report from the Congressional Budget Office, October 15th.
Who knew the national budget deficit has dropped so dramatically.
In 2009 the federal deficit was 9.2% of the Gross Domestic Product (GDP).
In the latest report for September 30, 2014 it is 2.8% of the GDP.
In other words, the federal budget deficit shrunk by over 70% and I hear crickets…
Bloomberg says “faster growth and falling unemployment?” Apparently.
Republicans and Democrats have any hand in this? Both will take credit.
I guess good news is no news.
A disclaimer for my Libertarian friends:
Oh, BTW, I do realize large doses of Baby Boomers are here and coming soon, so, I suppose… “Hello Social Security and Medicare,” and “Goodbye lowering deficit.”
Just let me enjoy the no news for a while…