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By Matt Kibbe
The short-term deal will assure long-term overspending
Independent voices from the The Washington Times Communities
Topic - Michael Gavin
For many investors, the more than halving of the deficit from a high of $1.55 trillion during the depths of the recession is the latest sign that the economy finally has turned the corner and is on a solidly upward path.
"The most threatening artifacts of the financial crisis — financially damaged households and destabilized public finances — are to a very large extent history," said Michael Gavin, an analyst at Barclays Research, noting that the combination of economic growth and vigilance by Congress has pushed down the deficit to pre-crisis levels. "We think it is likely to get better before it gets worse."