Thursday, November 12, 2009

U.S. budget deficit widens to $176 billion in October

On a projected annual basis, this is 12% of GDP, roughly 4 times the level that can be sustained. Since GDP growth trends 3-4%, deficits are sustainable if they are less than GDP growth.

I saw this off the Bloomberg news feed; will update with link later.

UPDATE: Here be it.

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