First Principles

Via Instapundit, this chart is just downright scary.  And it shows how you can tell a multi-billion dollar lie by hiding it in the literal truth.

Barack Obama said again tonight that he intends to half the deficit by the end of his first term, and this chart makes clear that this is the literal truth.

But Obama also – again – complained about the deficits he “inherited” (you know – the ones he voted for).  And this time he was even more disingenuous, because he blamed Congressional Republicans when the Democrats were in charge of passing budgets and appropriating funds in Congress the last two years (coincidentally, when “George Bush’s” deficits were highest).

Put it all together, and Obama’s implication is clear:  “I’m going to half Bush’s deficits  by the end of my first term.”  That’s what I’ve understood him to mean for as long as he’s been saying that, and I go out of my way to be skeptical with anything he says. (By the way, the fact that he’s still “campaigning” as a deficit hawk and aggressive budget-cutter underscores the truth that his election was not a mandate for unsustainable social spending Euro-style and credit card spending without end.  In other words, it was not a mandate for pure, distilled Progressivism.)

I just thought he was exaggerating and relying on best case scenarios.  (By the way, never the right way to plan.  You plan for the worst, and hope for the best, not the other way around.)

In fact, he’s only halving it after quadrupling it first.  Now, I struggled with all those calculus classes the Navy made me take in college, but even I can add that together to come out with a doubling of George Bush’s already unforgivably high debt.  Even by his own rosy predictions, it’s going to be a lot higher in the next few years, and after a brief dip, will only continue to grow.

Sometimes you need to go into debt to make money – a business loan is a good example.  But what kind of business loan brings profit when the “loan” never gets paid off, and the size of the loan continues to grow?  How does this make sense to anyone?

Now, if that’s what President Obama thinks will bring prosperity, fine.  But man up to it.  Admit it.  And if your deficits are economic manna from heaven, please stop saying the last guy’s (which were a quarter of yours in size) were the very essence of economic doom.

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He also said that he’s very concerned about doing to his successor (handing him a big ol’ debt) what he was saddled with.

So why is it, that by his own estimates, and assuming he serves full two terms, does he think it just dandy to bequeath a far bigger debt (roughly half again as much) to him or her?

Again, if he thinks this is OK, fine.  Just admit it.  Be a leader, and shoot straight with us.  I can respect someone proposing things I disagree with (he did win, as he so often reminds his critics), but when you’re being that disingenuous about it, I’m left concluding that either you don’t know what you’re talking about or that you’re deliberately being dishonest.  And that you can’t respect.