Site for Free Markets and Free People

Sunday, February 22, 2009

AP Claims Obama "Inherited" $1.3 Trillion Deficit

Another very interesting piece of spin, this time from AP writer Liz Sidoti. She claims that Obama "inherited a $1.3 trillion deficit" from Bush. Since the budget year ends in October, we already know that the budget deficit for Bush's last fiscal year was approximately $450 billion (half of which was from the Democrat-proposed and poorly conceived "rebate checks.")

Never before in history have journalists assumed that the president "inherited" the future year's budget until now. Essentially, the media has already absolved Obama of the negative impact of his "stimulus" bill and instead put that spending on Bush's shoulders. I seem to recall that back during the bursting of the stock market bubble that began in March 2000, that was also Bush's fault, despite him not taking office until 2001. That follows the media's Golden Rule: Regardless of the problem, it's always the GOP's fault.

I'm having a hard time keeping track of all the budget revisions. We're now up to $1.75 trillion, but that's before the new $1 trillion cap and trade system and $1 trillion government-run health care plan. Let's just call it an even $4 trillion.