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News Link • Government Debt & Financing

Lies, Lies and More (Government) Lies


The polls all say that the American people have grown far more skeptical about their government.  It's a good thing.  They are lying to us as though we are school children that have yet to master simple addition and subtraction.

The government's Fiscal Year 2014 ended about a week ago, on September 30.  On October 1 Fiscal Year 2015 began.

We'll get the final numbers on the 2014 deficit in a few days.  But already the cheering has begun.  For example the Daily Beast announced on Monday that, "It's time to retire the phrase 'trillion-dollar deficit' from our political vocabulary."

Instead they tell us, the deficit is down two-thirds from its peak of $1.412 trillion in 2009.  In lieu of the final number the Daily Beast rounds its estimate to $500 billion and declares victory.

It says that the giant iceberg that deficit hawks said the U.S. was steaming toward is actually melting.

We got more of the same from the President himself last week in a speech at Northwestern University.

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