Skip to main content

View Diary: More Good News: CBO Reports Deficit is down another $200 Billion (86 comments)

Comment Preferences

  •  What awful news (0+ / 0-)

    No wonder our economy is still in the doldrums - our deficit is being reduced, when increasing it is the only real way (absent money printing) to get our economy moving forward and bring unemployment down. Terrible news for the poor, working and middle classes.

    •  I was thinking a similar thing... (1+ / 0-)
      Recommended by:

      Although the reason the deficit is down is in part due to the improved economy. So, in that sense it is good news.  

      The bad news is that had the deficit been kept constant in light of increased revenue, presuming the same jobs/$ ratio as the $750 billion stimulus which was about 4 million jobs.  If the government had increased spending by $200 billion instead of reducing the deficit by $200 billion. That would be 1 million additional jobs.

      •  using the numbers extrapolated from the stimulus (0+ / 0-)

        using your logic, that'd net 2 million jobs - as 1 million jobs would come from the extra spending, and another 1 million jobs wouldn't disappear from the reduction in the deficit. Of course that's only concerning the stimulus numbers; i've seen some other numbers concerning the impact each $1 billion of stimulus. For each $1 billion of extra spending, it creates 8500 defense jobs at the low end and 28,000 infrastructure jobs at the high end. So we may be talking about MUCH more, especially if it's effective spending like infrastructure.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site