Wednesday, July 10, 2013

Good News, I Guess

It was reported today that, for the first time in the 5 years Barrak Obama has been president, the budget deficit will be under $1 trillion. It was announced that the projected deficit for the current fiscal year will be $759 billion. Of course the report does not take into account variables such as a war, or an economic downturn. How can it? Such variables would throw a wrench into any economic forecast. With every dollar stretched, there is no cushion to absorb any shock. Naturally, the news was greeted with enthusiasm by the administration. They finally have something concrete to point to in their assertions that they have turned things around.

Good news, I suppose, but in a very qualified way.  It is akin to reporting an air crash in which no one was killed and calling it "good news".