Deficits: The media breathlessly report an "unexpectedly" large increase in unemployment applications with inflation rising "faster than expected." Given the wasteful spending spree we've been on, what do they expect? The economic gurus at major media outlets such as Reuters are having a dickens of a time explaining why the economy is not responding to the massive doses of monetary steroids we've been injecting. Last Thursday, after the Labor Department announced that claims for state unemployment benefits increased by 31,000 to 473,000, Reuters reported that the surge was "unexpected." The market, we were told, was looking for 430,000. We were...