Over Acting on US Budget Deficit Reduction

The Congressional Budget Office has just projected the US budget deficit will drop to 5.3% of GDP by the end of this fiscal year. This would be half of what the deficit was relative to the economy in 2009, or the same proportion as during the Clinton administration in 1992.

To the right wing Republican deficit-scolds that have been screaming fix the deficit NOW through deeper spending cuts, this news makes them look silly. (Cue Monty Python's hospital for over acting). If the economy grows the deficit will naturally go away and spending cuts NOW does not grow the economy.

Jobs and growth should be the main focus. The deficit is a secondary problem right now.