Deceitful Deficit

In the midst of the push for spending $1.5 trillion to nationalize health care, the Obama administration has delayed releasing its summer budget update. Usually released in mid July, the update was pushed back into August. Ah, transparency. There are numerous problems with the budget, not the least of which the rosy outlook on future years’ GDP. “Obama’s current forecast anticipates 3.2 percent growth next year, then 4 percent or higher growth from 2011 to 2013,” reports the Associated Press. “Private forecasts are less optimistic, especially for next year.” Needless to say, downward revisions in growth and revenue projections would mean much higher budget deficits than previously stated. Obama has promised to “cut” the deficit in half over his first term. But dropping from $1.8 trillion to $900 billion is hardly something to celebrate. And why admit the bad news before he has the votes for health care?

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