January 21, 2013 at 09:59 AM EST
The Continual Failure to Understand the Balance Sheet Recession
Ezra Klein and Bill McBride are excited that the government is reducing spending in the next years because he says it’s “real progress on the debt”. He says: “Let’s do some quick math. Start the clock — and the deficit projections — on Jan. 1, 2011. Congress cut expected spending by $585 billion during the 2011 [.....
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