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Deficit on the wane
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Originally posted by Sidd Finch
It's only "on the wane" if you accept that the WH's original estimate was anything but a puffed number designed to make "cutting" the deficit easier. It's still a huge number. (I know, I know -- we don't to pay it back, so we're all right.)
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To be fair to the White House -- not that they deserve it -- $60 billion of the difference between the projection deficit and the actual number just announced is due to larger than expected government revenues, and $60 billion is because the White House inflated the projections for the nth year in a row to be able to have this sort of announcement to distract Spanky and everyone else from noticing the billions being added to the federal debt.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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