Joshua Bolten, Director of the Office of Management and Budget explains the reduction of the United States’ deficit last year.

Director of the Office of Management Joshua Bolten talks about how the anticipated $512 billion deficit was brought down to $412 billion, resulting in a $109 billion reduction within one year. Last year, people were worried about an increase in deficit due to the cost of the war, tax relief for Americans, and other contributing factors. However, contrary to popular belief, the economy grew in the exact opposite direction. The deficit was lowered because of people being employed and paying taxes, having home and family budgets, and limiting the growth of expenditure in Washington, D.C. (:41)

 

 Standard Podcast: Play Now | Play in Popup | Download