GOLDMAN: Here Are The 3 Reasons Why We'll See A Sharp Reduction In The Deficit

Jan Hatzius of Goldman Sachs had some interesting commentary on the deficit the other day. You'll recognize the sectoral balances chart in his work as he's one of the few analysts on Wall Street who seems to really appreciate the importance of Wynne Godley's work. Here, he describes the 3 reasons why the deficit is about to slide in the coming years: "There are three main reasons for the sharp reduction in the deficit: 1. Lower spending. On a 12-month average basis, federal outlays have fallen b...