The
U.S. federal-budget deficit for the fiscal year that ended at the end of
September, 2016, represented a reversal on the six-year run of declining
deficits. The $587 billion deficit is equivalent to 3.2% of GNP; the previous
year’s deficit had been $438 billion, which is 2.5 percent of the GNP.[1]
The underlying reason for the altered trend has to do with democracy
itself—something notoriously difficult to budge.
The full essay is at "U.S. Budget Deficit of $587 Billion."
1. Jackie Calmes, “U.S.
Deficit Increases to $587 Billion, Ending Downward Trend,” The New York Times, October 14, 2016.
