The more you think about it, the more surpassingly amazing it is how big a fool you need to be to fall for the White House’s song and dance today about the falling budget deficit.
The budget deficit last year was $318 billion.
In February, the White House ‘estimated’ (I use quotation marks because this is a standard trick for the Bush White House) the deficit for 2006 would be $423 billion.
Today they released a new estimate that it would be $296 billion.
In other words, between February and July tax cuts reduced the deficit by a whopping $127 billion.
Would you fall for this?
