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Home Publications Blogs Beat the Press Is It a Fact That the U.S. Deficit Is "Ballooning?"

Is It a Fact That the U.S. Deficit Is "Ballooning?"

Thursday, 26 May 2011 04:26

The Congressional Budget Office actually projects that the deficit is on a downward path, but the NYT still felt the need to tell readers that the deficit is "ballooning" in an article on the agenda for an upcoming meeting of G-8 leaders. The article also felt the need to describe the deficit as "giant."

These comments reflect the reporters or editors political views. They do not inform readers about facts in the world.

Comments (3)Add Comment
written by izzatzo, May 26, 2011 6:33
The eggplant that ate Chicago has become the balloon that swallowed the USA. Doo wacka doo.
written by Sherparick, May 26, 2011 9:13
Again, a political narrative has to be told, and these reporters and editors are profoundly ignorant of economics and the relation of economic growth (or lack thereof), the current account deficit, and the Government deficit.
written by S.D. Jeffries, May 26, 2011 12:39
A "giant" and "ballooning" deficit, attributable to the current president, is beltway conventional wisdom now. Facts have nothing to do with this state of mind, which has been successfully carried from the D.C. megaphone to the general public. A corrollary to the deficit message is the message that President Obama is responsible for large tax increases.

By refuting these messages, Dean, I fear you are swimming against a very powerful tide - not that those of us with a lick of sense don't appreciate your efforts.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.