About that "insignificant" deficit

[Aragorn]

From today's NY Times:

"Using what economists say is the most reliable measurement, the $455 billion represents 4.2 percent of the total economy, somewhat less than the 1983 deficit in the administration of President Ronald Reagan, which was 6 percent.

"But in only six years since 1946 has the deficit been larger than 4.2 percent of the gross domestic product. Not counting the current surplus in the Social Security fund, the deficit would be 5.7 percent of the total economy, the largest since World War II except for 1983, when there was no Social Security surplus.

The second largest deficit since before I was born and no end in sight to the deficits. That is not insignificant. Also,

"The deficit picture has worsened by $789 billion, from a surplus of $334 billion to a deficit of $455 billion, in just two years."