Talking about the US, it said that «fiscal stimulus is happening when the economy is close to full employment, keeping overall deficits above $ 1 trillion (five percent of GDP) over the next three years.» (geckoresearch.com)
But in the public's mind talk of structural deficits vs overall deficits, fallacies of composition, etc, do not have a lot of impact. (nextleft.org)
This is because higher inflows will cause adjustments in the economy — potentially including lower credit card rates, a stronger dollar, weaker lending standards, higher unemployment and surging asset markets — that cumulatively cause savings to drop and force the overall deficit to rise, even as the deficit with China falls. (carnegieendowment.org)