wow!. over $1.2 trillion in deficits over bush's term, your suggestion is we should a) be happy and giving thanks that this past year's deficit was only a quarter trillion, and b) fall victim to the ole setting of expectations trick...nah.
true, federal income is greater than forecast. where is it coming from? those "record corporate profits" primarily. also to huge investment gains by the wealthy.
let me correct one point you made, I don't see the resilience in our economy as being a result of the deficits, yet it is a major factor. the fed's management has been (so far) very well done. the public sector spending has been (imo) the largest stimulate.
in other words, not the tax cuts but the classic keynesian approach.
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