Will,

You might want to provide the following by way of comparison:

http://news.bbc.co.uk/1/hi/business/4135808.stm

This has information on France, Germany, and Italy's budget deficit problems where Italy has a budget deficit as high as 4.3% of GDP and France and Germany cannot get under the 3% of GDP for budget deficits that is required by EU Standards.

Interesting to see the US Budget deficit shrinking below 3% in 2005, while the grandstanding on the left about budget deficits is going on. The Current Account Deficit is probably as troubling or more in the short run and in the long run, the Entitlement problems loom large.

But again, sucks to be France and Germany. They have 1.5-2% GDP Growth Rates so expansion is not going to pull them out. Tax cuts grow the economy and the economic benefits and future tax revenues have more than offset the tax cuts. Bush's economic plan certainly pulled us out of the recession. Surprise, Surprise, no one gives any credit at all to how well the economy is doing.

http://www.epi.org/content.cfm/webfeatures_snapshots_20050617

Will,

This has an interesting graph of the Current Account Deficit and the overvaluation of the dollar. I think we have to focus on the Current Account Deficit and Social Security Reform as our priorities. The recent diversion of Dems to talk about budget deficits and use Dollar figures as opposed to %GDP figures is a smoke screen. The real problem is Americans love foreign products and we are in real danger due to our overconsumption. Add to that the fact that we as a nation do not save and compound that with a time bomb of entitlements and we are in bad shape.

Will,

Here's another chart showing the history and projections of the U.S. federal spending. What's cool about it is that it also shows the history and projections of U.S. tax revenue and the difference (the deficit or surplus) in between the two (HT: The Skeptical Optimist). Check out where he's projecting the budget will go back into balance!

Social Security is easy. Keep raising the retirement age of the able bodied. Do it slow.

The medical programs are a harder nut.

LOL!!

The deficit "figures" add back social security cash "surpluses" and other trust fund "surpluses" with accrued interest.

The false crisis in SS is after 2009 it is less cash cow to offset the deficits.

The SS crisis is you have to pay it all back someday.

And yes we will see 3% plus growth every year forever.

jpe,

I delete a lot of spam. Sometimes legit comments get nuked in the process. I don't delete legit comments on purpose without banning an IP address in the process. What was your comment about?