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View Diary: More Good News: CBO Reports Deficit is down another $200 Billion (86 comments)

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  •  The AP reports it as "bleak" news. (4+ / 0-)
    Recommended by:
    Matt Z, Vyan, TheDuckManCometh, sethtriggs

    From the Associated Press report by Andrew Taylor:

    ... the fourth straight year of trillion dollar deficits on President Barack Obama's watch.
    He's counting FY 2009 as Obama's, not Bush II's.
    The result was a slight, $207 billion improvement from the 2011 deficit of $1.3 trillion.

    The bleak figures from the Congressional Budget Office ...

    That's a 16% improvement -- not "slight" in my book. And I wouldn't call it "bleak" either.

    Next comes a quote from Paul Ryan.

    Then comes more of the reporter's opinion:

    The 2012 deficit was 7 percent of the size of the economy, an unsustainably high level.
    Is it unsustainable? I don't know, but the reporter gives no backing whatsoever for this claim.

    In my local paper, the article is clipped before it gets to the paragraph that starts:

    Obama inherited an economy in recession and a deficit in excess of $1 trillion.
    At least here the 2009 deficit is, rightly, given to Bush II, though not by name.

    The Paragraph: Terse news, history and science.

    by hungeski on Sat Oct 06, 2012 at 09:47:49 AM PDT

    [ Parent ]

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