alt Hacker NewsEconomists currently cannot find a solution, even with computer assistance, to our economy.
https://www.marketplace.org/story/2025/07/14/how-our-debt-cr...
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iso1631 • yesterday at 12:47 PM
It's crazy how in 1992 the US federal deficit was 4% of GDP
During Clintons term this turned around to being a 2.3% surplus in 2000. Just 25 years ago the US was spending less than it was taking in tax.
The Bush came in and that surplus became a 3.3% deficit by 2003, and then the GFC crashed it to 9.8%.
While Obama was in, it crawled back from 9.8% deficit to 3.1% by 2016 - same value as before the GFC
Since then it's gone back to 6% of GDP
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That’s pretty standard for economists.