February 4, 2004

THE COLUMBIA JOURNALISM REVIEW BLOG is defending the Bush Administration against charges of record deficits: “As a percentage of the gross domestic product — which many economists consider a better measure than simple dollar amounts — the currently projected deficit, at 4.2 percent according to the Congressional Budget Office or 4.5 percent according to the Bush administration, is equal to or smaller than those recorded in six years during the 1980s and 1990s.”

I’d still slash nondefense spending if it were up to me, but this is useful perspective.

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