The Federal Government now claims the deficit is declining. That claim is a blatant lie. The magnitude of the lie is so great as to suggest the desperation that government officials must have with respect to the economic future of the country.
We are now into the sixth year of a declared economic recovery. That is a pathetic joke. No recovery takes more than a few quarters and during this “take-off” the economy grows at very high rates. That has not happened, PERIOD! Nor is it about to happen.
The size of government lies may be a reasonable barometer of the degree of danger facing the economy and the country’s citizens. As the end nears, the lies must grow bigger in order to continue the confidence game that things are normal. Surely no one with an ounce of sense any longer trusts the numbers coming from Washington.
The latest “feel-good” lie is truly a whopper. Government claims the Federal deficit has been reduced to $589 billion dollars for the first 11 months of this year. Wow! That sounds great! We must be making great progress on cutting spending or raising revenues or managing the debt. Sadly, that number is a bold-faced, blatant lie which any government official referencing it should be called out on. That person either lacks integrity or common sense.
Michael Snyder blew the whistle on this latest deficit claim:
The idea that the Obama administration has the budget deficit under control is a complete and total lie. According to the U.S. Treasury, the federal government has officially run a deficit of 589 billion dollars for the first 11 months of fiscal year 2014. But this number is just for public consumption and it relies on accounting tricks which massively understate how much debt is actually being accumulated. If you want to know what the real budget deficit is, all you have to do is go to a U.S. Treasury website which calculates the U.S. national debt to the penny. On September 30th, 2013 the U.S. national debt was sitting at $16,738,183,526,697.32. As I write this, the U.S. national debt is sitting at $17,742,108,970,073.37. That means that the U.S. national debt has actually grown by more than a trillion dollars in less than 12 months. We continue to wildly run up debt as if there is no tomorrow, and by doing so we are destroying the future of this nation.
How desperate must conditions be if the lies are getting this big and this easy to spot?