The Congressional Budget Office has now revised its estimate of the 2013 budget deficit -- and it's down by over 20% of what it was projected to be just a few months ago: from some $845 billion down to $642 billion.
The deficit for 2014 is anticipated to drop even further to about $378 billion, or about 2.1% of the economy, a very respectable amount.
So, what do you say to this, Paul Ryan? You were predicting disaster if we didn't adopt your austerity measures. But this rapid shrinking is happening under a Democratic administration. Remember? Barack Obama is still president.
Ralph
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