Reagan deficit any day of the week.’
I’ve said for years that some of the worst reporting by the media deals with issues of finance and the economy.
“Real Time” watchers were given a perfect example of this Friday evening when a college professor that contributes to MSNBC as well as Nation magazine actually said, “I’ll put my Obama deficit next to your Reagan deficit any day of the week” (video follows with transcript and commentary):
FORMER CONGRESSMAN RICK LAZIO: Mitt Romney unlike Barack Obama has 25 years of private sector experience. I think when you’re looking at an economy…
MELISSA HARRIS PERRY, MSNBC CONTRIBUTOR: And that worked out, Wall Street’s doing great.
LAZIO: …that just created 15,000 jobs. If you compare this, this, this recovery compared to the last ten recoveries, we would have created, if we went to the same average, we would have created about 14 or 15 million more jobs. If we went back to ’82, in 1982 Reagan inherited a ten or eleven percent unemployment rate. Coming out of that recession, they ended up creating about 14 million jobs.
MELISSA HARRIS PERRY, MSNBC CONTRIBUTOR: I’ll put my Obama deficit next to your Reagan deficit any day of the week. Right, so…
LAZIO: I will too, because it’s about a trillion and a half dollars this year alone for Obama.
If you add up all of Reagan’s deficits throughout his two terms, it’s a combined $1.5 trillion. Adjusted for inflation, that’s $2.72 trillion.
In Obama’s first three years in office, his combined deficits will total $4.23 trillion. In just three years.
Anyone wanting to equate these numbers must have either no knowledge of simple arithmetic, a total disregard for facts, or both.