Saturday, August 22, 2009

Deficit Estimate and Rule One

Friday evening, the Obama administration released the news bomb that its deficit estimate had increased from $7,000,000,000,000 to $9,000,000,000,000. Of course, they hoped that no one would notice since it was done just before the weekend and hoped that the mass media would consider it old news by Monday and generally ignore it. Since it is an estimate by the administration for ten years, one almost knows that it's a lowball; the reality will probably be much worse.

Those of you who've been long time readers know Rule One refers to various ways that politicians manipulate news.

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