My dad always told me that there are lies, damned lies, and government statistics. I was reminded of this when I read in the paper that the deficit in the 2014 federal budget was $483 billion and predicted in to drop even lower to $468 billion. Happy days are here again. Right?
Well the national debt on Sept. 30, 2013, the close of business for the 2013 fiscal year was $16,738 billion; on Sept. 30, 2014, $17,859 billion. Being slightly math challenged I let my 3-year-old do the math and he came up with a deficit for 2014 of $1,521 billion. Just slightly more than announced. So I looked at the debt on Dec. 14, this being fiscal year 2015’s first quarter, and the debt was $18,141 billion. So in a period of three months the debt has increased by $798 billion, surpassing the government estimate for the year.
So being an interested person I looked up the meaning of the word deficit. My dictionary defines the word to mean: “an excess of debit items over credit items.” In simple terms: How much more debt did we accrue in a stated period. Well as my granddad told me, Everyone is entitled to their own opinion; however they are not entitled to their own facts. Perhaps your local senator can explain the discrepancy to you. I keep asking.