Monday, January 23, 2012

Comments to Senate Budget Committee re Economic Outlook Hearing

In comments for the record to the Senate Finance and House Ways and Means Committee, the Center for Fiscal Equity presented a model for estimating growth from the previous fiscal year's deficit/surplus added to the net interest expenditure (with deficits cancelling out interest costs to estimate the true injection or extraction from the financial markets to government spending) presented as a percentage of GDP.  Based on FY2011 figures, we estimate FY2012 growth to be 1.6%.

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