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Is that calculated in a way that takes into account that we blew out the spending in 2020 and 2021 to an insane level, and therefore the rate is lower than 2019
by leeroyjenkins11 4y ago
Is that calculated in a way that takes into account that we blew out the spending in 2020 and 2021 to an insane level, and therefore the rate is lower than 2019 because 2020 and 2021 was so huge?
That's like saying look at the small rate my debt is increasing because I went from adding 1000 a month to spending 100,000 a 3 months ago and I'm only adding 99,000 this month.
- spywaregorilla 4y agoNo, it's in marginal dollars. It's the budget deficit. Biden's claims of enormous budget deficit reductions are relative to the 2020/2021 highs and are thus mostly irrelevant. But it's still genuinely lower than 2019 by a bit. One could have imagined a world where the spending didn't fall back to normal yet. ymmv