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Here’s how future US budget deficits are apportioned to various legislation and events from Center on Budget and Policy Priorities. Remember, the budget for 2000 was in surplus; in 2009 the deficit was $1.4 trillion. It’s not the stimulus spending that dominates deficit spending.

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In the meantime, employment is still terrible. If the employment rate stayed at the same rate as 1999 67.1% then there are four million fewer jobs then 10 years ago. That’s a lot of unhappy people.