Wednesday, March 25, 2009

Obama's Deficit Doublespeak

What Obama really means when he says he'll cut the budget deficit in half within a few years, is that he's first going to quintuple it... then cut it in half.


It's worth noting that even the White House projections admit no hope of ever returning to the Bush deficit (let alone a balanced budget). Yet, Obama insists he inherited this debt and deficit. As you can clearly see in Saul Anuzis' chart above, Obama inherited a deficit which was "only" just over 400 billion. How anyone could justify quintupling that amount under the guise of "inheritance" is beyond me.
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