Gross Deficit Product

By Econ70 | 12/22/2010
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Our annual deficit is 10% of GDP. A deficit of 3% is sustainable (trust me) and 2% of the deficit will melt away as the economy revives; leaving a deficit of 5%. Had the Bush tax cuts been repealed that would have reduced the 5% to 2.5%. What this means is that Congress has to…

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