In an incredible display of bravery, foolishness or ideological commitment, MSNBC is selling Obama as the “Austerity President’ based on the fact that the deficits, which ballooned dramatically under Obama, are now coming down. Here is the sales pitch, you buying?

The Incredible Shrinking Deficit

There are still quite a few politicians who claim, just a matter of course, that in the Obama era, the United States runs “a trillion-dollar deficit every year.” It’s clearly time for them to update their talking points.
Closing the books on a fiscal year in which the federal budget deficit fell more sharply than in any year since the end of World War II, the Treasury Department reported on Thursday that the deficit for 2013 dropped to $680 billion, from about $1.1 trillion the previous year.
In nominal terms, that is the smallest deficit since 2008, and signals the end of a five-year stretch beginning with the onset of the recession when the country’s fiscal gap came in at more than $1 trillion each year. As a share of the nation’s economy, the budget deficit fell to about 4.1 percent, from a high of more than 10 percent during the depths of the Great Recession.

 

read for article at msnbc.com