Archive for April 29th, 2009

29
Apr
09

Obama's Budget Analysis Lacks . . . Accuracy

Or maybe, just maybe, his administration is full of unwarranted hope.   So much for the old addage to manage based on data, from the International Business Times:

However, [Obama] uses the magician’s tactic of deflection to sell his economic gimmickry. First Obama directs your attention towards his promise of removing Bush’s budget tricks and repudiating his fiscal irresponsibility, but then whips out his smoke and mirrors of trillion dollar deficits and accounting games.

Taking a closer look at how the President arrives at his rosy projection of cutting the deficit to “just” $530 billion by the end of 2013 you find he accomplishes it not by keeping expenditures off budget, like his processor, but by utilizing grossly unrealistic economic growth assumptions.

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