Putting The Deficit In Perspective
Robert Kuttner's article "Don't worry so much about the budget deficit" (Economic Viewpoint, July 6) overstates the importance of the savings and loan bailout in this year's federal budget picture. Actual outlays for the Resolution Trust Corp. and other deposit insurance in the first eight months of the fiscal year (from the Monthly Treasury Statement through May 31, 1992) were just under $8 billion--a far cry from the $70 billion the article cites as likely for the year as a whole.
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