[Undertoad]

Originally Posted by Undertoad

On the other hand, the deficit is falling pretty fast right about now as revenues are increasing.

FY 2007: $161 billion
FY 2008: $459 billion
FY 2009: $1,413 billion
FY 2010: $1,293 billion
FY 2011: $1,300 billion
FY 2012: $1,089 billion
FY 2013*: $901 billion

And it continues:

FY 2013#: $680 billion
FY 2014*: $492 billion

*Projected
#Revised from projected

http://www.bloomberg.com/news/2014-0...wpisrc=nl_wonk

The 2014 deficit will be 2.8 percent of the economy, according to CBO, almost 32 percent below fiscal year 2013, when it was 4.1 percent. The deficit will shrink again in fiscal 2015 to $469 billion, before rising to about $1 trillion in fiscal years 2022 to 2024, CBO said.

“This will be the fifth consecutive year in which the deficit has declined as a share of GDP since peaking at 9.8 percent in 2009,” CBO said in a report released today. The 2.8 figure as a percentage of gross domestic product is lower than the 3.1 percent average of the last 40 years, CBO said.