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The New Number Are Out.
Did everyone see that the deficit at 319 Billion down from 412 billion last year. Even more important this year's deficit is 2.6 percent of GNP where last years deficit was 3.6 percent of GNP. In 1983 the deficit was 6 percent of GNP.
2.6% of GNP ain't bad when one has a war on and just pulled out of a recession. I think during World War II is was like 120% of GNP.
Once again the surge in the economy trumps tax cuts and spending increases. If we get a 100 billion drop every year we will balance the budget in three more years.
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