Have you heard that the Obama administration has done a great job in reducing the federal budget deficit? National Review has heard the claim and responds with this blurb in the magazine’s most recent print edition.
President Obama is boasting that his administration has achieved some of the fastest and steepest deficit reduction since the end of World War II. It has, and it did so right after achieving some of the fastest and steepest deficit increases in American history. When a 250-pound man loses 50 pounds, that’s something significant; when a 700-pound man loses 50 pounds, that’s a start. Given that Obama’s spending plans would return the deficit to the trans-trillion-dollar level in a few years, this is at best a respite.
The administration’s claims about deficit reduction rank right up there with its claims that the federal government has no debt crisis.
