Misleading Deficit Reduction

Once again the media fails to disclose that so-called deficit reduction really hides the fact that the deficit spending will continue to increase our total debt.  All that is being proposed is to spend slightly less than originally proposed, not to cut spending.  Note the misleading headline: In tandem: Reducing the deficit to raise debt ceiling. (emphasis added) Below is a Washington Post graph.





The Economist graph from the Cato Institute



Of particular note, I liked the comment by Mr Edward of the CATO Institute:

Wait a minute, those bars are rising! Spending isn’t being cut at all.  The “cuts” in the deal are only cuts from the CBO “baseline,” which is a Washington construct of ever-rising spending. And even these “cuts” from the baseline include $156 billion of interest savings, which are imaginary because the underlying cuts are imaginary...
The federal government will still run a deficit of $1 trillion next year. This deal will “cut” the 2012 budget of $3.6 trillion by just $22 billion, or less than 1 percent.

When will we ever see a graph from the Obama administration showing the claimed [deficit reduction] to demonstrate that the above graphs are somehow "wrong".  Probably when hell freezes over.

PS: Fixed text in brackets/