Sunday, August 14, 2011

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