All those popping sounds you’ve been hearing recently are Republican eyeballs after looking at current budget deficit projections.

A budget deficit that was more than 10 percent of GDP in 2009 is on track to be about half that this year. “The federal budget deficit is shrinking rapidly,” writes Jan Hatzius, the chief economist of Goldman Sachs, in an April 10 report. Goldman estimates that in the first three months of 2013 the deficit was running at 4.5 percent of GDP, and they forecast a deficit of 3 percent of GDP or less in the 2015 fiscal year.


{ 1 comment }
  1. saeco says:

    The way people talk about how much the federal budget deficit is rising, you’d think the sky was falling.

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