The Deficit Is Falling

Kevin Drum wants more recognition of that fact:

deficitDave Weigel notes a conundrum today: according to a new poll, 54 percent of the public disapproves of Barack Obama’s handling of the deficit. And yet, as the chart on the right shows, the deficit is shrinking dramatically. … It’s unfortunate that the deficit is falling so fast. It’s a headwind against the recovery that we don’t need. Nonetheless, the deficit is falling fast, and no one seems to know it yet.

Exra Klein thinks the falling deficit spells disaster for the GOP:

This is the context for the latest debt-ceiling fight: Republicans delivered on their 2010 promise to reduce the deficit, and now they’re adrift. There’s no single goal –save maybe the impossible dream of repealing Obamacare — that really serves as the raison d’etre of this Republican Party. When’s the last time you heard an elected Republican really try and sell the Ryan budget as the key answer to the nation’s problems?