danielamerman/articles/2014/RealDefC.html So to place a little more accuracy on the press releases, it wasnt a surging economy that reduced the deficit from $1.1 trillion in 2012 to $659 billion in 2013. Instead it was the federal government taking 100% of real economic growth for the nation that so dramatically reduced the deficit in 2013. And because this redistribution of the economy from the private side to the federal government is the result of tax code changes, it is not a one-time occurrence, but will continue to persist with each passing year. And if an aging population by itself translates to a lower overall economic growth rate – as many economists believe – that exacerbates the problem. Moreover, if we accept the historical evidence that deeply indebted nations usually experience lower overall economic growth rates – that further exacerbates the problem.
Posted on: Tue, 08 Apr 2014 01:53:07 +0000
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