Wessel: The Federal Deficit

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In his article, Wessel first asks if the federal deficit; the difference between government revenue, and government spending; is shrinking too fast. Wessel mentioned that our deficit now is larger than it was in 1945 and every year since but at the time this article was written he noted that the total debt stood at $16 trillion and while it was not yet at the debt ceiling that the government has set, it was quickly approaching it. Even now our debt continues to grow, it is now at over $19 trillion dollars. The federal deficit has gotten smaller, it dropped from 10.1% of the GDP in 2009 to 9.0% in 2010 and it dropped even further to 8.7% and 7% in 2011 and 2012 respectively (Wessel, D. 2012). One of the reasons Wessel gives for the large

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