Honey, I shrunk the deficit! (video)

A quick piece from Rachel Maddow the other night on how the budget deficit seems to have shrunk itself. We’re seeing this year the fastest deficit reduction we’ve had since WWII, according to Maddow.

She also notes in her segment the recent NYT story that shows we’d have 1.5m more jobs, and that unemployment would be be down a full point further, had we not gone after the deficit so aggressively during a week economy.


The Fed also recently warned that austerity was harming the economy.

And Scott Walker’s austerity is hurting Wisconsin.

And we know Paul Ryan’s austerity magic is hurting Spain, Portugal and the UK.

And now we have even more data on how it’s harmed the US and wasn’t even necessary for taking a significant chunk out of the deficit.  Of course, Republicans knew this.  Ever since Newt Gingrich admitted that he wanted Medicare to whither on the vine, we knew that Republicans’ plan all along was to build up big deficits, Reagan-style, and then use those deficits to justify massive cuts in programs other than those that caused the deficits (i.e., defense increases and tax cuts).

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Follow me on Twitter: @aravosis | @americablog | @americabloggay | Facebook | Instagram | Google+ | LinkedIn. John Aravosis is the Executive Editor of AMERICAblog, which he founded in 2004. He has a joint law degree (JD) and masters in Foreign Service from Georgetown; and has worked in the US Senate, World Bank, Children's Defense Fund, the United Nations Development Programme, and as a stringer for the Economist. He is a frequent TV pundit, having appeared on the O'Reilly Factor, Hardball, World News Tonight, Nightline, AM Joy & Reliable Sources, among others. John lives in Washington, DC. .

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  • ezpz

    You’re too kind. Coming from you, I’m both humbled and honored.
    Thank you.

  • CSStrowbridge

    “And, like a typical libertarian cracked-pot…”

    I’m not libertarian, you idiot.

    Being stupid and a hypocrite is helping your case.

  • Exactly

  • You are good ezpz….. I bow to a true blog ninja!!!

  • Compared MSNBC to the Nazis? Now please re read the comment. Sound it out if you can and look for illustrations to help you along.—-Oh and Please link.

  • No, because NOBODY likes you.

  • CSStrowbridge

    Oh look, someone down arrowed one of my posts without responding to it. Are you going to whine and cry about that?

  • CSStrowbridge

    Why would anyone engage you in a discussion? You compared MSNBC to the Nazis. You clearly have lost the ability to be rational on this topic and any discussion would be a waste of time.

  • CSStrowbridge

    She will also point out when she makes a mistake.

  • ezpz

    You think that’s bad, you should post some truth about Maddow on Raw Story and see how many down votes you’ll get. Last I looked, I had 12 downers on a comment I posted last night, lol. They’re as bad as Huff in their obamabotulism and rachel worship.

  • Ford Prefect

    Yes, which is why she’s a better propagandist than most anyone at Fox Noise. Both channels lie, but Fox does it often by simply making shit up, whereas MSNBC’s “bias” lies in what they omit, which is the classic American standard for propaganda. So they do “align with reality” more, even if it is blinkered and unrealistic in its own right.

  • unclemike

    That wiki link doesn’t really apply here, if you’d care to look at the numbers involved. The wiki example graph goes from 9350 to 9750, an increase of about 5%, whereas the Maddow graph goes from 1.4 trillion to 0.6 trillion, a drop of about 57%.

  • Listen, chicken shit downer arrow why don’t you offer some dialogue, engage in the discussion.

  • Hue-Man

    The illustrated graph above is the first sign of propaganda to come – the infamous Truncated Graph ( http://en.wikipedia.org/wiki/Misleading_graph#Truncated_graph ) where often small differences are exaggerated.

  • That’s what’s called, “The Big” a propaganda ploy made famous by the master of it—-((whispers in a Godwin’s voice—- Mr. Hitler) & Goebbles here: http://en.wikipedia.org/wiki/Big_Lie

  • “Maddow is quite deft at misdirection.” that’s at the core of her talent as a propagandist.” Bingo!
    I see the Debbie Downer Cockroaches are out today!”

  • What news! Reducing thanks to slashing medicare, medicaid, social security, destroying unions, increasing tax burden on the middle class, not to mention slashing employment of local and state civil servants. As usual Maddow is making the case for hero Obozo again! It will get worse as the Obama Care takes hold in a year and the unregulated mandatory cost of insurance goes skyward.

  • Austerity is a hammer in the hands of the plutocratic bastard class, and in their fevered obsession to find ever more to plunder and pillage, they’re determined to redefine as nails every social program and policy benefiting the 99%.

  • NorthAlabama

    there are maddow viewers who are quite adept at thinking for themselves, regardless of spin.

    and, yes, she is guilty of spreading propaganda from time to time. her facts do tend to align with reality, though, more so than faux news or conservative talk radio.

  • Ford Prefect

    Just a reminder: the sequester was Obama’s idea as the only possible alternative to his even more sadistic “Grand Bargain” brand poison. The GOP, being sadists themselves, were keen to the idea as well. But this is not the GOP in action, it’s Democrats leading the way to economic sabotage.

    Maddow is quite deft at misdirection. She can take Democratic policies and paint them as property of the GOP, thus relieving the Dems of any responsibility in the addled minds of her audience. The fact she can do so while even making the honest point that austerity is bad for society AND the economy… well, that’s at the core of her talent as a propagandist. No one at Fox is that good.

  • pappyvet

    Here here

  • NorthAlabama

    ok, obama has now fulfilled his campaign promise to cut the current budget deficit in half. it’s time to move on to other issues, mission accomplished.

    how ’bout a new stimulus package to spur a little growth? make it budget neutral, with spending balanced by elimination of corporate tax loopholes and installing the buffet rule, just for starters.

    no way ge should get a tax refund, or romney should pay half as much as me as a percentage of taxes, i’m just sayin’.

  • pappyvet

    Of course you realize that the repubes will be saying that it shrunk because of austerity. And they will push for more

  • pappyvet

    They absolutely hate this country and can rationalize hurting people because it is the only way they can feel superior.And they MUST feel superior. Plantation thinking has not gone away,it just morphed.

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