Thursday, August 18, 2005

 
The not-so-incredible shrinking deficit | Economist.com:
GEORGE BUSH has the dubious distinction of presiding over the largest negative budget swing in American history: from a surplus of $236 billion in 2000, the year he was elected, to a deficit of $412 billion, or 3.6% of GDP, when he stood again in 2004. Even in an economy with output of around $12 trillion, $648 billion is a lot of money to misplace.

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