Some good news out of Washington 8211 Global Public Square - CNN.com Blogs
"The CBO says that the federal deficit – the gap between revenues and spending – is projected to be $506 billion in 2014. That is just 2.9 percent of GDP, slightly lower than the average shortfall over the last four decades.
Keep in mind that in 2009 the federal deficit was 9.8 percent of GDP. The current number is much better than most believed was possible just a few years ago.
Nobel Prize winning economist Paul Krugman argues that the debt and budget crises were "imaginary" and have "fizzled." He says the new CBO projections are further proof that the "debt apocalypse has been called off."
But Obama is leading the country down the path to destruction. The GOP paints a picture with invisible ink.
"The CBO says that the federal deficit – the gap between revenues and spending – is projected to be $506 billion in 2014. That is just 2.9 percent of GDP, slightly lower than the average shortfall over the last four decades.
Keep in mind that in 2009 the federal deficit was 9.8 percent of GDP. The current number is much better than most believed was possible just a few years ago.
Nobel Prize winning economist Paul Krugman argues that the debt and budget crises were "imaginary" and have "fizzled." He says the new CBO projections are further proof that the "debt apocalypse has been called off."
But Obama is leading the country down the path to destruction. The GOP paints a picture with invisible ink.
