U.S. Deficit is Back to Civil War Levels
June 18, 2011
Here is a powerful one to take you into the weekend:
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With the exception of the Civil War, WW1 and WW2, the US has historically been around the 0% mark, give or take a couple of percentage points. We are now approaching Civil War levels in terms of our deficit as a percent of GDP.
Sources:
Surplus/Deficit as a % of GNP/GDP (Barry Ritholtz via Bianco Research)
Chart Of The Day (BusinessInsider - MoneyGame)