Jan
15

Budget Balance

balanced-budgetIn calendar year 2014, the budget deficit was $488 billion, $72 billion less than in 2013 and the smallest deficit since 2007. Since the start of 2010, revenues have risen from $2 trillion to $3 trillion, while spending has been flat at $3.5 trillion. If revenues continue rising by $200 billion/year, which is very plausible, and spending does not increase, we would have a balanced budget by July 2017.

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