The Budget Deficit Is Shrinking Rapidly And Most Americans Don’t Know It [View all]

[Triana]

The deficit is down 37.6 percent for the first 10 months of the 2013 budget year, according to the Congressional Budget Office. But a new survey conducted by Google at Paul Krugman’s request finds that more than 50 percent of Americans think it’s still growing.

Last year the government spent $973.8 billion more than it took in for the first 10 months of the budget year. The deficit for the same period this year is $607.4. This year’s deficit is projected to be $670 billion.

As a share of gross domestic product, the deficit was recently as high as 10.1 percent in 2009, when the deficit was $1.4 trillion. It is around 4 percent of GDP, which means the deficit has been cut by more than half since then, in both actual dollars and as a share of GDP.

A poll in February found that only 6 percent of Americans were aware the deficit was shrinking. The new survey finds that a little over 17 percent of those polled know the deficit is shrinking, with only 8.3 percent giving the correct answer: that it has decreased by a lot.

THE REST:

http://www.nationalmemo.com/deficit-down-by-37-6-percent-this-year-but-most-americans-think-its-growing/

And a little note for Paul ("Lyin&quot Ryan and the rest of the GOP idiots out there about BUDGETS and Republicans: