An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, January 15, 2009
U.S. Gov't surpluses and deficits: An historical perspective
The Budget of the United States Gov't publication has historical tables on surpluses and deficits going back to 1789. You can access it here. Please go to page 21 of this publication to view the data.
You will notice that the most powerful periods of economic growth (post Civil War, 1920s and 1942-1946) were preceeded by massive deficit spending that occurred very rapidly.
For the economy to recover now we must see the same, perhaps in order of magnitude far greater than what is currently being proposed.
Podcast are suddenly back in Apple Itunes.
ReplyDeleteHooray!
Billy
how do you know some of these billions that are evaporated are not part of a scheme to say " oops we don't really have all these billions " but the company or individual is not hiding the money in Switzerland, Monaco, or in Biloxie ?
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