The headline: Federal
Deficit Sharply Lower.
The text: The lower year-to-date
deficit was the
result of a record of $2.12 trillion in revenues. Spending, however,
was higher — $2.27 trillion, which also marked an all-time high.
So we spent more than we brought in, but the deficit is lower?
the rate of increase in the deficit is lower.
The deficit is still getting bigger. Last year the
deficit went up $239 billion. This year it
was projected to be “only” $205 billion. I say was
projected, because the projection was made before
the stock market went into the tank. Now the bean counters
are going to have to find some more beans.
Of course, I don’t actually believe any of those numbers, anyway, so I
don’t know why I bothered to post this.