There are two national deficits, and both are in good if not excellent condition. Every day that the House has debated the public debt limit, President Barack Obama has cited this fact. No opponent pays any attention.
As President Obama promises to bargain away changes to spending and social programs in exchange for income tax increases in the top two brackets, leading economist Dean Baker criticizes the so-called fiscal cliff threat as a myth.
Frugality? Check. Family values? Check. Sound reasoning? Nope. Mitt Romney’s campaign managed to stay true to the concerns of his base while totally botching the logic behind an infographic claiming that President Obama’s management of the U.S. economy is akin to that of a family accountant gone mad.