The Glass Isn’t As Empty As It Could Be

AP source: White House projects lower deficit

This is one of the headlines on this morning.  And it’s true, by canceling $262 billion in additional bailout aid that was originally in the budget as a “place marker”, Obama has lowered the deficit to only $1.58 trillion for 2009.  So already he is cutting the deficit and being fiscally responsible.  Nevermind that Bush’s cumulative budget deficit for 8 years was only $2 trillion.  So congratulations to Obama.

If you want the real truth about debts and deficits, beyond the misleading headlines, read my post: Debts, Deficits, and the Myth of the Clinton Surplus.  By the time you’ve read this much of this blog, our national debt has increased another $1,000,000.

Of course, this is no different than when we learn that 350,000 jobs were lost and Obama came on tv and said he saved or created 150,000 jobs because otherwise the total loss would have been 500,000.  The next month when job losses were 554,000, he had no comment.

After today’s election in Afghanistan, it will be interesting to see if our President takes credit for those who did show up, or blames the low turnout on the last 8 years.


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