Republicans Need to Focus on Size of Deficit

I have been concerned over the past several months that the Republicans are not adequately explaining the problem of the federal deficit. It is not just that the deficit exists, but that it is so enormous. While the deficit itself may not be the sole or most important issue (that is obviously the economy), it is of vital importance that Republicans clearly explain how large it is, compared to the federal budget, and what it will take to get it under control.

The Congressional Budget Office does an excellent job of issuing monthly reports on the federal budget, showing changes in revenue and expenses, and providing detailed information on the deficit. This month, it also issued a separate report showing that the federal deficit for the first seven months amounted to $721 billion.  The latest monthly report shows that, during the first seven months of the fiscal year, the deficit amounted to 34.25% of all federal expenditures. Thus, more than one third of all federal outlays were paid for with borrowed money.  During that time period, the US spent 52.1% more than it took in.

No country can continue indefinitely with these gaps.  Under current federal policies, the deficit will only increase and become an even greater proportion of gross national product.

When talking about this, I often ask people for their estimate of the size of the deficit, compared to federal expenditures. The general estimate is that it is about 20%, and they are shocked when I tell him that it is over one-third of all federal outlays. It seems to me that discussion of the deficit has a much greater impact when people understand how enormous it is, compared to federal expenditures. I believe the Republican should pound this home every time that they discuss the issue.