The public has no idea the deficit is shrinking (MSNBC, do I need to say more)

MSNBC.com ^ | 2/23/2016 | Steve Benen

[Beave Meister]

A couple of years ago, a Bloomberg Politics Poll asked the public a good question about the deficit: “Is it your sense that this year the deficit is getting bigger or getting smaller, or is it staying about the same as last year?” It wasn’t even close – despite the fact that the deficit, in reality, was shrinking quickly, only 6% of the public knew that. A 62% majority said they believed it was getting bigger, which was the opposite of the truth.

Two years later, Al Hunt flags the results of the new Bloomberg Politics Poll, which offers some good news and some bad news when it comes to the public’s recognition of reality. “A quick question about the deficit – which is the difference between what the federal government spends and what it takes in in taxes and other revenue each year. Over the last six years, do you think the deficit has been getting bigger or smaller?”

Bigger: 73% Smaller: 21% Not sure: 6%

The wording of the question is slightly different than in early 2013 – this time, there was no option for those who believe the deficit is roughly the same size – but at least in this poll, the number of people who are correct has grown. So, too, is the percentage of Americans who are wrong.

[Beave Meister]

Joseph Goebbels would be proud of these nutjobs at MSNBC...

[txnativegop]

Here’s a radical idea about the fed budget, let the gov’t run a surplus each year.

[Blood of Tyrants]

The deficit is shrinking because of the Republican Congress. The debt, however, continues to grow.

[TexasFreeper2009]

the deficit is going down because of the sequester.

the national debt on the other hand continues to rise rapidly and now stands above 19 trillion.

I assume many when asked this question mistook deficit for national debt.

[PGR88]

Sure its shrinking

Just wait until the next recession. If its at all similar to 2009, it would not be unreasonable to expect a $2 Trillion deficit.

[Intolerant in NJ]

Maybe not - but I bet they know the debt is bigger than ever, and growing by the second.....

[MarvinStinson]

Steve Benen is a Soros protege who writes mostly for Rachel Maddow’s maddowblog.com.

Lefties love to quote and cut and paste their Steve Benen articles which come straight out of Soros’ mouth.

[Jim from C-Town]

The deficit is going down. It is now only larger than every other deficit in history except for tall the other Obama deficits.

The debt continues to increase exponentially and will get even worse if interest rates rise.

[Fungi]

Bingo!!!!!!! Congratulations, you have won the highly acclaimed seven exclamation mark award. Even these buffoons on Salem —Michael Medved—for one continue to praise the reduction in the deficit, never mentioning the increase in the debt. A plague on all of them despite their efforts, how honorable they may seem. The lame Hugh Hewitt is completely lame for his continual verbal abuse of his producer who continues to fight cancer. Shame on you Hugh the lame one.

[kaehurowing]

Wait till interest rates increase. . . .

We’re screwed.

[Sgt_Schultze]

Don't forget that deficit was so large because the obam had just won and democrats took control of Congress. W never managed to resolve the budget, so the extremists and the obam jammed in excess spending and passed the 2008 budget. That budget deficit was credited to W. The next order of business was to pass a stimulus bill, the deficit amount of which coincidently, also became the fault of W.

The first order of business of the extremists in 2009 was to establish a incredibly large baseline deficit against which normal deficits would appear austere.

[aimhigh]

The deficit usually shrinks under a Rpublican congress. Presdential budgets are dead on arrival, so they can’t take credit.

[DannyTN]

The deficit is shrinking but first it got to a completely unreasonable size.

It’s like an alcoholic going on a bender. And then claiming their drinking is down because the current bender is not as bad as the previous one.

[JmyBryan]

So, the sequester was good for the economy?

[kabar]

Obama has been running up the biggest deficits in history. He has added $9 trillion so far to the debt, almost doubling it. Yes, annual deficits may be going down compared to the $1 trillion a year deficits, but the national debt is still increasing.

[17th Miss Regt]

let the gov’t run a surplus each year.

Stop hating Obama because he is black! Or gay! Or muslim!

[txnativegop]

I don’t have to! :P

[smokingfrog]

[kabar]

[Robert DeLong]

As the old saying goes, numbers never lie, but liars always figure.

It contains a grain of truth, however, compared to 2008 deficit spending of 458 billion and 438 billion in 2015, deficit spending barely fell. Which compares Bush's last year to Obama deficit amount for 2015.

Due to TARP adding 700 billion, we should not count 2009.

In 2010, 2011, & 2012 the deficit spending never got below 1 trillion. So the statement that is was falling and quickly is way off the BS meter chart. It was falling but not quickly. In 2013 it fell to around 700 billion, and 2014 fell to around 500 billion. Finally getting past Bush's 458 billion by 20 billion in 2015.

So based upon 2009 figures it fell by approximately 66%. Using Bush's last year of deficit spending figure it fell a little les than 5%.

So my analysis, some truth peppered with lots of chicanery.