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mk · 4212 days ago · link · · parent · post: The "deficit emergency" is over according to Congressional Budget Office's latest projections
It was never much of an honest debate. The recession that came at the end of Bush's second term caused a massive deficit, not spending. However, I think it remains to be seen if the economy heals like expected. Hiring still is anemic, and people are coming back to earn less. Perhaps that will change when things get moving; however, I think it's just as likely we'll end up with a bubble rather than a general recovery.
I'm having trouble arguing why the trend where the gains captured from economic growth won't just continue to trickle upward like they have been for decades now. I don't know that there will be a recovery to speak of for the middle class or poor.Hiring still is anemic, and people are coming back to earn less.