Barack Obama’s budget is being described as lowering the deficit through spending cuts. All lies.
As the budget gets unveiled, we need to remember that stupid “victory lap” that Secretary of the Treasury Jack Lew took back in October, claiming to have lowered the deficit. As Bob Allen wrote,
You know you’re doomed when your Secretary of the Treasury takes a “victory lap” simply because the Federal Government devoured an all-time record of citizens’ hard-earned money—and it still spent half-a-trillion more than it plundered!
Even an establishment source like Bloomberg found it too hard to lie about that one. But with Obama now touting his budget we are already seeing many mainstream sources devoting themselves to more lies for the Administration. At Real Clear Politics, Scott Ramussin wrote early Monday,
The confusion created by the language of official Washington was highlighted earlier this week in media coverage of a report showing that the federal budget deficit for 2015 will be the lowest in many years. USA Today, for example, reported this good news with the explanation that deficits have fallen since 2009 “due to a combination of federal spending cuts and economic growth.”
The problem—and it’s a big one–with that statement is that federal spending in 2015 is projected to be $138 billion higher this year than it was in 2009 ($3,656 billion this year compared to $3,518 in 2009).
Think about that! Spending is higher than it was but the media says spending cuts are the reason for declining deficits.
USA Today was not alone in making this mistake. It’s the way the story line comes from official Washington and it conveys a misleading impression of why deficits are lower today. Too many reporters have become part of official Washington rather than translating the official statement into the language of everyday Americans.
A translation would note that federal spending has remained relatively stable in recent years following a huge jump in 2009. Deficits are down today because federal tax collections are now more than one trillion dollars higher than in 2009 ($3.2 trillion this year compared to $2.1 trillion in 2009).
So, once again, notice that we are doomed. Revenue collection has increased by $1.1 trillion but we still have to borrow more money in order to make our budget. And the national debt keeps climbing.
This is completely reckless. We are already on an unsustainable course of incredible debt acceleration even without this new budget. The government is like a driver who thinks his only foot pedal is the gas.
There is no brake for politicians, and the media is covering for them.