Charts of the Day: Time to Hit the Fiscal Reset

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.


You’ve seen versions of these charts before, but Michael Linden of CAP has now updated them. They send a pretty clear message: Over the past two years, the federal deficit has been slashed by about $2.5 trillion, mostly via spending cuts. As a result, our medium-term deficit picture has brightened considerably.

And now? It’s time to stop. The economy is still fragile, austerity has failed utterly in Europe, and we don’t need any more of it here. For now, at least, a deficit of around 3 percent of GDP is, if anything, too low. It’s time to hit the reset button. The full report is here.

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate