This blog contains posts and comments written by students in Dr. Tufte's economics classes at Southern Utah University.
9/30/2005
Bush still plans to halve deficit
I found this article and thought it was interesting to see that what the current numbers were for our deficit. It says that by 2009 it is the goal if the President to cut the national deficit in half. They question the possibility due to the hurricanes that have been hitting the gulf coast. Even with the amount of money that will be put into the relief efforts, they say it still can be done. I think this is very optimistic, but at least they have a goal. Also is it so bad to have a deficit any ways?
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3 comments:
This isn't that big a deal.
Most of this improvement comes from a sustained macroeconomic expansion. Most of these forecasts are next to useless becuase they can't forecast turning points very well.
Dr. Tufte said that most of the forecasts are useless. I agree look at what has happened. In another comment Dr. Tufte said that people that predict things are liars.
And ... here we sit almost 4 years later, and Bush was ahead of schedule on this a year ago (when the economy was still doing above average), and now he's doing worse because we've had a couple of bad quarters.
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