Wednesday, February 01, 2012

The Deficit Is Shrinking

You read that headline right. And the source of this surprising reality? Drudge Peach Pundit Morning Reads.

If you click through and read the article, you'll see the CBO projects the 2012 deficit at $1.08 trillion. Originally the estimate had it dropping below the tantalizing trillion mark, but later revisions nudged it slightly back over that psychological marker.

Can that be right? Can the deficit actually be dropping despite the best efforts of our free wheelin' Socialist-In Chief?

Yes. And it has for some time.

Here's the deficits since 2009 (and remember 2009 was actually mostly President Bush since the fiscal year ran through Oct 1st):

2009: $1.41 trillion
2010: $1.23 trillion
2011: $1.29 trillion
2012: $1.10 trillion


And that chart at the top? That's the rate of increase in Federal spending. That nose dive at the end is not an illusion.

Just a few things to roll around your head in case you have the misfortune of your radio landing on the WSB MEDIA CONVEYOR BELT OF DOOM with some snake oil salesman screaming "HE'S GOING TO SPEND US INTO OBLIVION!"

Reality bites.