Are federal deficits actually going down?
The president is annoyed. On Saturday, during a speech to the Congressional Black Caucus, he complained that “I’m so sick of Republicans saying we’re the ‘big spenders.’ Give me a break. Give me a break.” He all but said in one portion of the speech that he is spending a lot of money on special interests and yet “doing all of this while reducing the deficit -- last year, $350 billion, and this year by $1 trillion.” It’s magic. It’s amazing to watch a speech in which so few fiscal facts are correct. First, the Committee for a Responsible Federal Budget estimates that ...