Mar 03 2009
The media really doesn’t understand it all
One more reason not to take things you read in the press on faith…
An article on the CNN Money site has the title Reality check on Obama’s deficit plan. As the title implies, it’s a discussion of the President’s proposals regarding the budget and cutting the deficit. The problem, though, is in the subtitle:
The administration laid out several key approaches to whittling down U.S. debt. Whether they pan out as the president hopes is a question mark.
Do you see the error?
The article author has confused the deficit with the national debt. The former contributes to the latter, but they are not the same thing. The only way the U.S. debt can be reduced is if there is a budget surplus to allow for it’s paydown. Best I can tell, there are no surpluses in Obama’s budget projections.
Here are some other posts which might interest you:
