No, it’s true. This is not one of my satire pieces. That’s what they did, in a statement released this morning, and White House Press Secretary Josh Earnest even flagged the statement for reporters traveling with President Obama in Asia so they didn’t miss it.
The news was that the Congressional Budget Office released a report stating that the deficit had come down a little bit more, to the lowest point of the Obama presidency and to a place that is just below the average for the last 50 years.
Buhhhht . . . the average for the last 50 years is pretty bad and has resulted in our current $18 trillion in debt. The estimate also doesn’t include a bunch of spending and tax cuts that routinely get “extended” by Congress, to the tune of more than $1 trillion over ten years.
And the deficit is set to start rising again in just a couple of years, to heights rivaling the levels of the last recession. And that’s all assuming we don’t have another recession.
The White House acknowledges this, and suggests a fix:
CBO’s longer-term budget and economic projections confirm the need for Congress to act to strengthen our economy for the middle class while putting our debt and deficits on a sustainable trajectory, including by making the investments that will accelerate economic growth and generate good new jobs for our workers to fill.
Investments. Get the joke? Investments are what liberals call spending. That will cure the deficit.
And so I’m headed out right now to Dairy Queen to work on my diet.