The Blatant Lie That The Deficit Is Declining

The Federal Government now claims the deficit is declining. That claim is a blatant lie. The magnitude of the lie is so great as to suggest the desperation that government officials must have with respect to the economic future of the country.
We are now into the sixth year of a declared economic recovery. That is a pathetic joke. No recovery takes more than a few quarters and during this ‘take-off’ the economy grows at very high rates. That has not happened, PERIOD! Nor is it about to happen.
The size of government lies may be a reasonable barometer of the degree of danger facing the economy and the country’s citizens. As the end nears, the lies must grow bigger in order to continue the confidence game that things are normal. Surely no one with an ounce of sense any longer trusts the numbers coming from Washington.
The latest ‘feel-good’ lie is truly a whopper. Government claims the Federal deficit has been reduced to $589 billion dollars for the first 11 months of this year. Wow! That sounds great! We must be making great progress on cutting spending or raising revenues or managing the debt. Sadly, that number is a bold-faced, blatant lie which any government official referencing it should be called out on. That person either lacks integrity or common sense.

This post was published at Economic Noise on SEPTEMBER 17, 2014.