Not to belittle your work, but throwing economic numbers into a chipper and analyzing the pieces often obscures information available from a wider perspective.

The tendency to treat all money the same denies some realities that can be fatal to an economy. Primarily this involves private bank debt that gets little attention among all the hair on fire reaction to the public debt. If the people who have the bulk of public money don’t use private debt it is extremely difficult to retire private debt if the economy doesn’t grow fast enough to roll it over into new debt. Retiring private debt requires public money creation in excess of tax collection, deficit spending, and those deficits must be available to the people who have private debt or they are simply sequestered as unspent wealth.

The deficit can be too large only if the distribution is too concentrated, which is why trickle-down economics is making our economy so prone to recessions during Republican dominance of our government. The last time we saw Republican majorities in all three branches for an extended period was in ’28, but Clinton’s budget surplus must be added into the mix as well. The track record for supply-side is a sweep. Seven “at bat” opportunities and seven strike-outs, likely soon to be eight, in our nation’s history. As Churchill said, “Americans can be depended upon to do the right thing, after they have exhausted all other options.”