So, Obama claims he will halve the deficit in 2013. My guess is he is right. But what does halving the deficit mean?
What he means is, if you take the over run of government for this year (1.3 Trillion), in 2013 he will spend half of it. If your deficit is half of this years, it's also far more then the average deficit under Bush. So in 2013, he wants to spend 500 billion more then the government makes (Bush's average was 400 billion more).
Is this the message the American people got? I think most Americans thought he meant we would be on the track to recovery, not that the rate we would sink would be slower.
The truth is, this is not good news at all, yet he portrayed it as such. Bush was the worst spender in US history, saying your only going to be slightly worse and touting it as a good thing is not very transparent if you ask me.
