President Obama has told some whoppers recently when it comes to the economy. It looks like some newspaper execs are taking their cue from him in spinning their current financial situation:

With straight faces, the chiefs of McClatchy Co., the New York Times Co. and other major publishers told investors that things were looking up for the newspaper business because their sales would be down “only” 20% to 25% in the fourth quarter of the year after tumbling as low as 30% in prior periods.