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Overextended U.S. Needs Cuts in Taxes, Spending Print Email
Written by Brian Domitrovic  - Investor's Business Daily
Friday, April 29, 2011

Over the past 16 years, we have seen a remarkable transformation of the United States' fiscal picture.

In 1995, the federal budget deficit was spiraling downward. At 2.2% of GDP, the deficit was in its third year of decline, a trend that held so strongly that the budget went into surplus from 1998 to 2001. Deficits roared back in the 2000s, moderating a bit before our latest crisis took them to a stratospheric 11% of GDP.

The funny thing about this highly variable record is that 1995 is the year when the U.S. Read more

 


 
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