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EDITORIAL: Obama’s deficit deceit isn’t fooling anyone
The deficit is down, so President Obama is congratulating himself for a job well done. “All kinds of good stuff is happening,” the president said last week. “I mean, we have cut our deficit by more than half.” At $486 billion, the deficit has indeed declined, but from the $1.4 trillion peak achieved in Mr. Obama’s stimulus-fueled first year in office. He can hardly celebrate cutting in half what he first tripled. Today’s deficit is still higher than it was in George W.’s last year in office. In fact, Mr. Obama’s cumulative deficits add up to $3.5 trillion more than the 2008 level of deficits….Read More
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