We look back on the late 1990s as a rare time when the federal government ran budget surpluses. We tend to forget that those surpluses came as a surprise to almost everybody.
As late as 1998, the Congressional Budget Office was predicting a deficit for 1999. In fact, Washington ran its biggest surplus in five decades.
What happened? Above all, economic growth. And that may be a big part of the answer to our current problems.
Wednesday, November 17, 2010
Blinding Revelations, a continuing series
Who knew this information, why have they been hiding it?
Posted by Georges at 10:10