Our fragile "recovery" is entirely dependent on government stimulus, as hinted at in this article. Note at the end of the article how our deficit is compared to total GDP, a meaningless and large number which serves to make the deficit sound insignificant. The federal deficit last year was around 68% of total tax revenue, but 9% of GDP sounds much better. The federal govt. needs to cut by about a third just to break even, and doing so will expose and exacerbate the depression, which further reduces tax revenue.
BBC News - US growth estimate in surprise downward revision: www.bbc.co.uk/news/business-12580617
http://chum.ly/n/70283b
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