Tea Party Needs A New Issue: Federal Deficit Really, Truly Is Disappearing
The tea party is going to have to find something else to complain about. One of its basic reasons for living the federal budget deficit is really, truly and absolutely fallingrapidly.
I say really because my post from several weeks ago about the disappearing deficit got the deficit birthers to turn out in droves. The most polite thing they said in the comments section was that I was wrong.
So you may not want to read any further if youre one of those people who, fiscal troll-like, is convinced the government is lying, the federal budget sky is always falling and there is nothing but dark deficit clouds overhead.
The truth is the exact opposite. Not only is the federal governments budget deficit not growing, its falling precipitously in nominal terms. Its also falling rapidly as a percent of Gross Domestic Product and that means the national debt is less of an economic burden than it has been in the recent past.
Those arent my numbers; thats what the nonpartisan Congressional Budget Office said in its Monthly Budget Review for September that was released on Wednesday.
According to CBO, the deficit for all of 2014 that is, for the fiscal year that just ended on September 30 was $486 billion, a whopping $195 billion less (with rounding) than the $680 billion deficit recorded in 2103. Thats the lowest nominal deficit since 2008.
At 2.8 percent, its also the lowest deficit as a percent of GDP since 2008.
What no doubt will also be difficult for tea partiers to accept is that 2014 was the fifth consecutive year the federal deficit has fallen as a percent of GDP. The legend that the deficit is rising and is out of control has now been proven to be the political equivalent of the Loch Ness monster and Big Foot: Its a myth.
The deficit is projected to decrease again this fiscal year. CBO forecast in its August budget update that the deficit would fall by another $40 billion from 2014 to 2015. Given the better-than-expected 2014 number, a deficit of close $400 billion thats about 2.3 percent of GDP would not be a shock. That would be the sixth consecutive year the federal deficit has fallen as a percent of GDP.
CBO and almost all others in the budget forecasting business project that the deficit will reverse course in fiscal 2016. Interest rates are expected to go up from their current levels and a good deal of relatively inexpensive short-term U.S. debt will be replaced at higher prices. Baby boomers will continue to retire at increasing levels and drive up spending for Social Security, Medicare and Medicaid. The tax code will increasingly reflect the work force changes and payments that are happening because of the boomer retirements. And, of course, we cant be certain about military spending.
Follow this link:
Tea Party Needs A New Issue: Federal Deficit Really, Truly Is Disappearing
- Brevard Federated Republican Women Celebrate 75 Years of Sisterhood With Tea Party, Fashion Show - Space Coast Daily - July 22nd, 2025 [July 22nd, 2025]
- Axe Vale Canoe Club hosts tea party and river paddle - Midweek Herald - July 22nd, 2025 [July 22nd, 2025]
- The Tea Party, Headstones and Finger Eleven to perform at Caesars Windsor - CTV News - July 22nd, 2025 [July 22nd, 2025]
- The Tea Party, Headstones & Finger Eleven Bring Canadian Rock History To The Colosseum This December - windsoriteDOTca News - July 22nd, 2025 [July 22nd, 2025]
- Midsummer Afternoon Tea party at Cottonwood Mansion - The Haldimand Press - July 18th, 2025 [July 18th, 2025]
- Norfolk hospital support group hosting tea party support group - Great Yarmouth Mercury - July 18th, 2025 [July 18th, 2025]
- Friends of the Athenaeum Host Annual Afternoon Tea Party - The North Star Monthly - July 16th, 2025 [July 16th, 2025]
- You Can Attend A Reimagined Six-Course Mad Hatter's Tea Party At This Glasgow Restaurant This Summer - And It's Only Available For A Limited Time -... - July 16th, 2025 [July 16th, 2025]
- How the Tea Party 'abandoned its small-government principle' and became a Trump 'personality cult' - Alternet - July 16th, 2025 [July 16th, 2025]
- Care home celebrates Alice in Wonderland Day with Mad Hatter tea party - Basingstoke Gazette - July 16th, 2025 [July 16th, 2025]
- First Primrose Tea Party raises nearly 2k for hospice in Bromsgrove - bromsgroveadvertiser.co.uk - July 16th, 2025 [July 16th, 2025]
- Fancy Nancy tea party invited children and their favorite teddy bear - Orange County Register - July 14th, 2025 [July 14th, 2025]
- Care home throws Mad Hatter's Tea Party for Alice in Wonderland Day - Daily Echo - July 14th, 2025 [July 14th, 2025]
- Women in military honored at tea party hosted by American Legion - WALB - July 14th, 2025 [July 14th, 2025]
- Tea Party by TeaMarrr - notion.online - July 12th, 2025 [July 12th, 2025]
- Garden tour and tea party set for July 15 at Plover library - Point/Plover Metro Wire - July 12th, 2025 [July 12th, 2025]
- How Much Tea Was Dumped During the Boston Tea Party? - Britannica - July 12th, 2025 [July 12th, 2025]
- Stoke-on-Trent Smashes Guinness World Record with Big Centenary Tea Party! - FE News - July 12th, 2025 [July 12th, 2025]
- Manchester goes mad for Oasis: Cardiff will look like a tea party compared to this - telegraph.co.uk - July 12th, 2025 [July 12th, 2025]
- Is there really a Tea Party within the Democrats? The answer may surprise you - rawstory.com - July 10th, 2025 [July 10th, 2025]
- Tea Party experience open to the public at AC Hotel Saturday - Madison County Journal - July 10th, 2025 [July 10th, 2025]
- A Taste of Wonderland: Six by Nico Introduces Mad Hatters Tea Party Menu for Summer - Dublin Town - July 10th, 2025 [July 10th, 2025]
- Bristol restaurant to introduce 'Mad Hatter's Tea Party' menu for summer - here's what to expect - BristolWorld - July 10th, 2025 [July 10th, 2025]
- Wonderland Tea Party returns for a third year of whimsical fun - veronapress.com - July 8th, 2025 [July 8th, 2025]
- Host A Garden Tea Party And We'll Match You To A Bird Persona - BuzzFeed - July 8th, 2025 [July 8th, 2025]
- Greg Gutfeld likens Musks third party idea to a tea party - Fox News - July 8th, 2025 [July 8th, 2025]
- On This Day: NHS worker from Watford invited to tea party hosted by Prince William - Yahoo - July 6th, 2025 [July 6th, 2025]
- 'Fabulous' Mad Hatter tea party fundraiser for Northamptonshire's Animals In Need - Northamptonshire Telegraph - July 6th, 2025 [July 6th, 2025]
- Host your own Alice in Wonderland tea party - Times of India - July 4th, 2025 [July 4th, 2025]
- 5 Things to Do: Yankee Doodle Tea Party, Dabblers: Painting for Adult Beginners, and more in Kendall County - Shaw Local - July 4th, 2025 [July 4th, 2025]
- Is No Kings a new Tea Party in the making? - The Hill - July 2nd, 2025 [July 2nd, 2025]
- Host A Royal Tea Party To Reveal Your Inner Disney Princess - BuzzFeed - July 2nd, 2025 [July 2nd, 2025]
- Doves Garden Tea Party Collection Brings 'Bridgerton' Vibes to Your Shower - The Daily Beast - July 2nd, 2025 [July 2nd, 2025]
- Dove channels afternoon tea with limited-edition Garden Tea Party collection - Drug Store News - July 2nd, 2025 [July 2nd, 2025]
- Dove Debuts Garden Tea Party-Inspired Body Care Collection Exclusively at Target - PR Newswire - July 2nd, 2025 [July 2nd, 2025]
- Visiting the Boston Tea Party Ships & Museum: What You Need To Know Before You Go - Mommy Poppins - June 29th, 2025 [June 29th, 2025]
- York care home celebrates Pride Month with tea party and cupcakes - uk.news.yahoo.com - June 28th, 2025 [June 28th, 2025]
- Governor, state reps speak at county Tea Party meeting - Pendleton Times Post - June 28th, 2025 [June 28th, 2025]
- 'Twisted Tea Party' brings fashion and philanthropy to Rancho Mirage - The Desert Sun - June 24th, 2025 [June 24th, 2025]
- Win Tickets to The Tea Party - Indie88 Toronto - June 24th, 2025 [June 24th, 2025]
- What the Boston Tea Party was fighting and why it still matters | Opinion - The Topeka Capital-Journal - June 22nd, 2025 [June 22nd, 2025]
- Tea Party in the Garden - Lac Ste. Anne County - June 22nd, 2025 [June 22nd, 2025]
- Tea Party to headline CanRock triple bill with Headstones and Finger Eleven at Rogers Place - Edmonton Journal - June 22nd, 2025 [June 22nd, 2025]
- School Nutrition Pros Treated to Tea Party - fayette-news.net - June 20th, 2025 [June 20th, 2025]
- A Royal Saturday Show: Princess Peigh's Sword Fighting Tea Party - WENY - June 20th, 2025 [June 20th, 2025]
- The Tea Party, Headstones and Finger Eleven Map Out Canadian Tour - Exclaim! - June 20th, 2025 [June 20th, 2025]
- The Tea Party making a tour stop in Windsor - AM 800 - June 20th, 2025 [June 20th, 2025]
- Finger Eleven To Tour Canada With The Tea Party & Headstones This Fall - Theprp.com - June 20th, 2025 [June 20th, 2025]
- Tea Party to headline CanRock triple bill with Headstones and Finger Eleven at Rogers Place - Yahoo - June 20th, 2025 [June 20th, 2025]
- THE TEA PARTY, HEADSTONES, FINGER ELEVEN Join Forces For Canada-Wide Tour Kicking Off In November - BraveWords - June 20th, 2025 [June 20th, 2025]
- The Tea Party, Headstones & Finger Eleven Announce Joint Canadian Tour - iHeartRadio Canada - June 20th, 2025 [June 20th, 2025]
- The Tea Party, Headstones and Finger Eleven announce tour stop in Penticton - Penticton News - Castanet - June 20th, 2025 [June 20th, 2025]
- The Tea Party, Headstones And Finger Eleven Team Up For Canadian Tour - live in limbo - June 20th, 2025 [June 20th, 2025]
- Learning Disability Week marked with Mad Hatters Tea Party in Kirkstall - West Leeds Dispatch - June 20th, 2025 [June 20th, 2025]
- School nutrition pros treated to tea party - Peachtree City Citizen - June 14th, 2025 [June 14th, 2025]
- Angry Democrats could face Tea Party-like movement from the Left - Washington Examiner - June 14th, 2025 [June 14th, 2025]
- Its dj tea party all over again - Roll Call - June 14th, 2025 [June 14th, 2025]
- Kildare public encouraged to throw a tea party for Team Hope - kildare-nationalist.ie - June 14th, 2025 [June 14th, 2025]
- Afternoon tea party on the way in County Waterford - waterford-news.ie - June 14th, 2025 [June 14th, 2025]
- Street Style Look of the Week: Wonderland Tea Party - The New York Times - June 10th, 2025 [June 10th, 2025]
- Sanrio Mascot Kuromi Gets Her Own 20th Anniversary Tea Party - Crunchyroll - June 10th, 2025 [June 10th, 2025]
- Tea Party and a Play with The Little Mermaid - geddieconnections.com - June 10th, 2025 [June 10th, 2025]
- PHOTOS: Crowds pour in as Oak Bay Tea Party heats up the weekend - Saanich News - June 10th, 2025 [June 10th, 2025]
- PHOTOS: Oak Bay Tea Party kicks off a weekend of festivities - Vancouver Island Free Daily - June 10th, 2025 [June 10th, 2025]
- A Wonderland of Wellness: The Mad Hatters Tea Party in the Mountains of Mallorca - Majorca Daily Bulletin - June 10th, 2025 [June 10th, 2025]
- Music, parade and teacup-race rematch on tap at Oak Bay Tea Party this weekend - Times Colonist - June 10th, 2025 [June 10th, 2025]
- EXCLUSIVE: IRS Official Tied To Obama-Era Tea Party Scandal Now Running Tax-Exempt Division - AOL.com - June 10th, 2025 [June 10th, 2025]
- Spring is the perfect time for a tea party - Monroe County Reporter - June 1st, 2025 [June 1st, 2025]
- Defying the British dev behind their MMO's "casual doubling of our taxes," Old School RuneScape player recreates the Boston Tea Party:... - June 1st, 2025 [June 1st, 2025]
- Medicine Park Tea Party to add class to the rugged Wichita Mountain scenery - The Lawton Constitution - May 19th, 2025 [May 19th, 2025]
- Malti's adorable tea party with Priyanka Chopra's manager is the cutest thing. Pics - India Today - May 19th, 2025 [May 19th, 2025]
- Priyanka Chopra's Daughter Maltie Marie's Tea Party PICS Are The Cutest Thing On Internet Today - Times Now - May 19th, 2025 [May 19th, 2025]
- Tea Party on the Porch and Patio to be hosted at Mountainsides Levi Cory House - Union News Daily - May 17th, 2025 [May 17th, 2025]
- Care home marks 80th anniversary of VE Day with afternoon tea party - Yahoo News UK - May 17th, 2025 [May 17th, 2025]
- Wiltshire care home celebrated VE Day anniversary with 1940s tea party - Wiltshire Times - May 17th, 2025 [May 17th, 2025]
- Abundant Life hosts free mother-daughter tea party next Saturday in New Bern - WCTI - May 11th, 2025 [May 11th, 2025]
- Channel your inner 'Bridgeton' on this Texas tea party tour bus - MySA - May 11th, 2025 [May 11th, 2025]
- Cinderellas Tea Party kicks off enchanting afternoon at Berks Ballet Theatre performance - Berks Weekly - May 11th, 2025 [May 11th, 2025]
- NOTL in Bloom - Setting up for a tea party fit for Alice at the NOTL Museum: Photo Gallery - Niagara-on-the-Lake Local - May 11th, 2025 [May 11th, 2025]
- VE Day 80 marked at Newport Castle with community tea party - The Pembrokeshire Herald - May 11th, 2025 [May 11th, 2025]