Today I was going through my list of "blogger friends" that line the right side of this blog and came across an article from my friend over at "King Politics".
Pop The Cork? The Biggest Deficit Reduction In U.S. History Occurred From 2009 to 2010
I no longer get mad any longer. I merely try and keep myself away from their ability to control my life.
I don't cry at what I see as people base intellectual dishonesty and "masturbatory" rhetoric that they use in their circle to keep them focused and not depressed despite the travail around them.
I have resolved to seek as much information as I can through enough information sources and then use my God given intelligence to interpolate the TRUTH.
The first thing that I noticed in this dishonest article is that the author had no intention of telling us that the REDUCTION came between two years - 2009 which was the greatest DEFICIT in US History and 2010 (approx $1,300 billion) which was the SECOND greatest (approx $1,200 billion in the red).
You would think that a person who is prepared to syndicate this message would see it, note the lack of credibility of the information and agree to never propagate any messages from that particular blog again. This only takes place when the syndicator's agenda is TRANSPARENT.
From The Capital Gains and Games blog
In previous years we would have been breaking out the champagne on this news: The monthly budget review released yesterday by the Congressional Budget Office estimated that the federal budget deficit fell by $125 billion from 2009 to 2010. This by far is the biggest one-year nominal drop in the deficit that has ever occurred.
There were two primary reasons there was no cheering yesterday.
First, it's not at all clear that reducing the deficit was the correct fiscal policy given the slow growth in the U.S. economy.
Second, in the current political atmosphere even a 50 percent reduction would have still left lots of room for those who want to do so to use the deficit as an issue. To those folks, the $125 billion reduction simply isn't as important as the $1.29 trillion deficit that's available for campaign fodder.
In other words, the $125 billion reduction in the deficit was both too much and not enough.
A quick word of caution. The CBO numbers are estimates; the official final number, which will be released later this month by the Treasury, is likely to be a little different. My back-of-the-envelope guess is that it will be a bit lower.