and Mark Watson reported that budget deficits tended to be smaller under Democratic presidents, at 2.1% potential GDP versus 2.8% potential GDP for Republican presidents, a difference of about 0.7% GDP. Their study was from President Truman through President Obama's first term, which ended in January 2013. Balance of payments between the states In 2019, residents and businesses in only 8 states contributed, as a whole, more money to the federal treasury than they received in services. Per capita, these were Connecticut ($1,614), Massachusetts ($1,439), New York ($1,172), New Jersey ($1,163), Minnesota ($336), Colorado ($239), California ($168), and Utah ($130). All other states received more in services than taxpayers there contributed, especially in (per capita) Kentucky ($14,153), Virginia ($13,096), and Alaska ($10,144). Public opinion polls According to a December 2012 Pew Research Center poll, only a few of the frequently discussed deficit reduction ideas have majority support: 69% support raising the tax rate on income over $250,000. 54% support limiting deductions taxpayers can claim. 52% support raising the tax on investment income. 51% support reducing Medicare payments to high-income seniors. 51% support reducing Social Security payments to high-income seniors. Fewer than 50% support raising the retirement age for Social Security or Medicare, reducing military defense spending, limiting the mortgage interest deduction, or reducing federal funding for low income persons, education and infrastructure. Proposed deficit reduction Strategies There are a variety of proposed strategies for reducing the federal deficit. These may include policy choices regarding taxation and spending, along with policies designed to increase economic growth and reduce unemployment. For example, a fast-growing economy offers the win-win outcome of a larger proverbial economic pie, with higher employment and tax revenues, lower safety net spending and a lower debt-to-GDP ratio. However, most other strategies represent a tradeoff scenario in which money or benefits are taken from some and given to others. Spending can be reduced from current levels, frozen, or the rate of future spending increases reduced. Budgetary rules can also be implemented to manage spending. Some changes can take place today, while others can phase in over time. Tax revenues can be raised in a variety of ways, by raising tax rates, the scope of what is taxed, or eliminating deductions and exemptions ("tax expenditures"). Regulatory uncertainty or barriers can be reduced, as these may cause businesses to postpone investment and hiring decisions. The CBO reported in January 2017 that: During