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nytimes.com - 6/10/2009

How Trillion-Dollar Deficits Were Created - Interactive Graphic

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Source: New York Times analysis of Congressional Budget Office data

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ritholtz.com - 6/10/2009

How Trillion-Dollar Deficits Were Created

— ritholtz.com — Today’s must read article is a front page NYT story by David Leonhardt. It looks at the... process by which boom time surpluses were turned into boom time deficits, and then even greater crash deficits. The two economic takeaways from the piece ... (more) How Trillion-Dollar Deficits Were Created

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How Trillion-Dollar Deficits Were Created
The Big Picture — ... takeaways from the piece fits into some of the nonsense I have been criticizing here: 1) President Obama budgets are “responsible for only a sliver of the deficits” (despite what GOP critics say); and 2) Team Obama has no realistic plan to deal with the deficit (despite what DEM supporters say). This is simply the reality of the past 10 years. My favorite part of the article was the ginormous graphic that accompanied it. Chart courtesy of NYT > Attention partisans: Try to be aware of your own ...

Where do We Go?
Lawrance G. Lux — ... from which I drew the link; both are from David Leonhardt. I read a little further and found this graphic link. Both the graphic and the Writings are very informative, and grant no potential Policy measures to bring the Deficit under control. Washington will never alter its desire to Spend, and Economist Thought should not support fiscal policy which they know will lead to future economic crisis because of Government Spending; California is only the ‘John the Baptist’ model of what will arrive with full fury; the decisive point probably coming when Debt Service exceeds the ...

Apportioning Blame for the Deficit
Marginal Revolution — ... I have two problems with the analysis.  First, the NYTimes' excellent graphics department this time goes overboard with a big and difficult to read chart.  Matt Yglesias ...

Breaking Down the Deficit
Freakonomics — ... breaks down the causes of the increasing budget deficit. The bottom line: Don't blame the Obama agenda, "it is responsible for only a sliver of the deficits."