This is a good example of the way in which differential calculus shows up all the time in economics. The budget deficit is the derivative of the national debt. The change in employment is the derivative of the unemployment rate. Barney Frank is talking about the second derivative in that quote.
I'm trying to remember who at one point said of inflation, "the rate of increase of the rate of increase is slowing" (a statement about the third derivative!). I'll check in my calc book tomorrow (right now it's in my office and I'm not).
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