U.S. Deficit Shrinks to 2.8% of GDP

The video discusses the budget deficit at the end of September, highlighting a significant improvement in the government's fiscal position over the past five decades. The deficit now stands at 2.8% of GDP, the lowest since 2008, compared to over 10% five years ago. While projections suggest further reductions, there is concern that political fatigue with austerity measures may lead to increased spending.

What was the budget deficit as a percentage of GDP at the end of September?

What is the significance of the budget deficit being at its lowest level since 2008?

How does the current budget deficit compare to its peak five years ago?

What concerns are there regarding future austerity measures?

What might politicians do in response to the austerity measures?