The federal budget deficit has declined from 8.4 of GDP in 2011 to a predicted 2.9 of GDP for all of 2014. And, according to the International Monetary Fund, the structural deficit (sometimes called the full employment deficit ), a measure of fiscal stimulus, has fallen from 7.8 of potential GDP to 4 of potential GDP from 2011 to 2014.

So, how should the US economy s jobs deficit, investment deficit, and long run fiscal deficit be addressed?

He wants two trillion dollars to protect us from terrorists next year, a two trillion dollar federal budget, which will land us back into deficit spending real fast.

There is both a knowledge deficit and an understanding deficit.

CAMBRIDGE The United States still faces a dangerous fiscal deficit, but one might not know it from the complacency that dominates budget discussions in Washington. Regarded as an urgent problem until recently, the federal deficit is now being placed on the back burner of American politics.

Budget deficit

Deficit (surplus)

A deficit?

The Schuldenbremse, or debt brake, requires the federal government to run a structural deficit of no more than 0.35 of GDP by 2016, while Germany s Länder will be banned from running structural deficits at all as of 2020. The current federal government will certainly abide by these rules, which implies reducing the structural deficit to approximately 10 billion by 2016 a reduction of about 7 billion a year.

Most economists go a step further, asserting that the US deficit is caused by a savings shortage. But, since one country s trade deficit is another s surplus, US Federal Reserve Chairman Ben Bernanke has argued for turning the conventional logic on its head rather than resulting from a savings shortage, the US trade deficit is the result of a global savings glut especially in China.

The financial press and many influential economists argue that a major de preciation of the dollar is needed to correct America s external deficit. But the US current account deficit about 6 of GDP in 2004 and 2005 mainly reflects a new round of deficit spending by the US federal government and surprisingly low personal savings by American households (perhaps because of the bubble in US residential real estate).

Europe s Trust Deficit

Europe s Vision Deficit

The Energy Deficit

Difference (surplus deficit)

Remarks by Federal Reserve Governor Ben S. Bernanke at the Sandridge Lecture entitled The Global Saving Glut and the U.S. Current Account Deficit , Virginia Association of Economics, Richmond, Virginia, 10 March 2005.

The financial press and many influential economists argue that a major de shy preciation of the dollar is needed to correct America s external deficit. But the US current account deficit about 6 of GDP in 2004 and 2005 mainly reflects a new round of deficit spending by the US federal government and surprisingly low personal savings by American households (perhaps because of the bubble in US residential real estate).

It perpetuates deficit spending.

Europe s Pointless Deficit Targets?

America s Misplaced Deficit Complacency

Global Warming s Technology Deficit

Closing America s Jobs Deficit

The Global Trust Deficit

3. Projected operating deficit

3. Projected operating deficit

3. Projected operating deficit

3. Projected operating deficit

3. Projected operating deficit

3. Projected operating deficit

Surplus (deficit) for period

Valuation results surplus (deficit)

But none of these is the deficit that really matters. The deficit that prevents Europe from drawing a line under its crisis is a deficit of trust.

BERKELEY The United States is beset by four deficits a fiscal deficit, a jobs deficit, a deficit in public investment, and an opportunity deficit. The budget proposals put forward by presidential candidate Mitt Romney and his running mate, Paul Ryan, could reduce the fiscal deficit, but would exacerbate the other three.

On the eve of the last G 7 meeting in London, US Federal Reserve Chairman Alan Greenspan did a startling about face by soft pedaling America s trade deficit. Market pressures appear poised to stabilize and over the longer run possibly to decrease the US current account deficit and its attendant financing requirements, he said.

Romney has provided few details about his deficit reduction plan. But, based on what he has revealed, we know that it would increase the jobs deficit, the investment deficit, and the opportunity deficit, with negative consequences for future growth and prosperity.

Attention deficit disorder, bipolar disorder.

The Sino American Trust Deficit

What is the Deficit Endgame?

VII. The Conference s financial deficit

D. Actual expenditures and deficit

Mr. Bailey, there's a deficit.

16. Recent poverty eradication initiatives in the United States had included an increase in the minimum wage, expanded tax credits for working families, a reduction in the federal deficit and improvements in education and teaching.

3. Operating deficit (1 less 2)

In the Brazilian federal system, the federal police are responsible for investigating federal and international crimes.

Federal Councillor and Head, Federal Department of the Interior