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MAY 22, 2013 - Washington Post

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Stop celebrating our falling deficits

It's time to stop celebrating last week's Congressional Budget Office report. Our deficits aren't dropping because we're doing something right. They're dropping because we're doing everything wrong. My initial piece on the CBO report led with the surprising news that the agency had knocked more than $600 billion off its projections for the deficit over the next decade. But as I wrote then, the deficit is following a weird path. It's not a gradual decline. It's not a temporary uptick as we spend to create jobs followed by a sharper decline as the economy recovers. It's a sharp decline ... Read More

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