Budget surpluses and depressions
December 23, 2008 at 08:17 AM EST
[Skip to the end] After the last budget surplus ended in 2001, Bloomberg stated it was the longest period of surplus since 1927 -1930. Prof. Fred Thayer wrote this before the surpluses of the late 90’s: http://www.epicoalition.org/docs/thayer.htm Here’s part of the intro: From the origins to World War II In its first 150 years, the government periodically undertook systematic multi-year reductions [...]
