Category Archives: Economics

Economic Ignoramus?

…or liar?

Governor O’Malley on Fox News Sunday, in an attempt to defend the president, said that it “was not true” that he hadn’t cut the deficit in half as he promised. How? By confusing the deficit with the debt. He said that when the president came into office it was ten trillion, and it had only gone up six trillion since then, which was about “half.” Or something like that. It wasn’t clear what his point was, but it was clear that he either doesn’t know what the word deficit means, and the difference between it and the debt, or he thinks we’re stupid. Unfortunately, Senator Ayotte, while sticking to her guns, didn’t point out his ignorance in real time, nor did Chris Wallace.

Of course, being an economic ignoramus and a liar are not mutually exclusive by any means. Many Democrats seem to be both.