Wednesday, August 26, 2009

So how big IS the deficit??

There is so much fear mongering over the deficit that I thought I'd take a look and see how big it really is. After all, we've been through the worst economic crisis since the 1930s, so how does the deficit stack up? Not that impressive, is the answer. Take a look for yourself below.

In my opinion, we need an even bigger deficit!


Unknown said...

Excellent post.

"The deficit is the biggest deficit ever at X trillions" blablabla

The religious bears constantly talk in NOMINAL TERMS such as X trillions, rather than in % of GDP (which is the only way to compare historical deficits).

mike norman said...

Yes, you're absolutely right! It always rises in nominal terms. The deficit was bigger in 1790 than in 1789!!

Anonymous said...

Deficit is a reality, I've heard that viagra online is organizing a good campaign in order to eradicate the deficit, so I'd like to know how they're going to reach it.