This chart was recently put together by the Federal Reserve of St. Louis. 
It shows, among other things, the fairly simple correlation between jobs (and the tax revenue they produce) and the deficit. When unemployment goes up, the deficit goes up; when unemployment goes down, the deficit goes down. 
So, here's a Pop Quiz: 
(1) What do you think most economists believe is the best thing to do to tackle the deficit? 
(2) What do you think Congress will do?

No comments: