The story of out-of-control debts and deficits is just plain wrong. US deficits have fallen in the past four years

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Dean Baker, at The Guardian writes:

Republicans are delusional about US spending and deficits

Contrary to the widely repeated stories of out-of-control deficits and spending, deficits have plunged in the last four years falling from 10.1% of GDP in 2009 to just 4% of GDP in 2013. The Congressional Budget Office projects the deficit to be just 3.4% of GDP in 2014. The latest projections show the debt-to-GDP ratio falling for the rest of the decade.

White House Offers Republicans Deal For 80% Of Their Demands To Avoid Sequester; Republicans Refuse It

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Ezra Klein, at The Washington Post writes:

As I understand it, the GOP has five basic goals in the budget talks: 1) Cut the deficit. 2) Cut entitlement spending. 3) Protect defense spending, and possibly even increase it. 4) Simplify the tax code by cleaning out deductions and loopholes. 5) Lower tax rates. The White House is willing to cut a deal with Republicans that will accomplish 1, 2, 3 and 4. But Republicans don’t want that deal. They’d prefer the sequester to that deal. That means they will get less on 1, basically nothing 2, 4, and 5, and they will actively hurt themselves on 3. So, rather than accomplishing four of their five goals, they’re accomplishing part of one. Some trade. Also, watch this bullshit: