Friday, May 10, 2013

Money matters

By Mustang Bobby 

The way the Republicans tell it, the economy is still collapsing, the deficit is ballooning, the tax hikes in January are killing business, and Barack Obama is a socialist bent on crushing small business under the heel of the federal government with regulations on top of regulations. Oh god oh god we're all gonna die.

Except none of that is true:

The Congressional Budget Office reported Tuesday that the federal budget deficit is declining this year compared to fiscal 2012.

For the first seven months of 2013, the deficit was $489 billion. That is $231 billion less than the budget shortfall for the comparable period last year.

The decrease is almost entirely due to revenue increases.

And we are seeing the strongest rate of job growth in eight years.

Meanwhile, the stock market is booming, the Dow having hit 15,000 earlier this week.

As for the growth of regulations from the federal government, it's a canard you always hear from the Republicans — the party of vaginal probes, by the way — but it's been debunked time and again, even when it was a campaign issue for Mitt Romney.

As I've said before, if Barack Obama is a socialist, he really sucks at it.

(Cross-posted at Bark Bark Woof Woof.)

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