July 28, 2012
HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): White House projects $1.2T deficit, lower economic growth in 2012. Do you think Obama would have won in 2008 if he’d promised these sorts of economic numbers?
UPDATE: Reader Bryan Farris writes:
Remember the first of many economic graphs that scared the bejesus out of everyone and created the Tea Party? It was Obama’s projected deficits vs. Bush’s actual deficits.
Turns out that (unexpectedly!), the news was worse than forecast. With today’s news that the 2012 deficit will measure $1.2 Trillion, we can see it’s 50% larger than was originally projected. … Oh, and if you extrapolate that out, that means that should we be so fortunate as to re-lect the Nobel Prize winner, we can expect a deficit of approximately $2 trillion in 2016.
Unexpectedly, of course.