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.
Indeed.
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.
MSNBC? Don’t worry – no more than a dozen or so people saw it!
Well, well…. maybe Lazio doesn’t realize 12,000 of those 15,000 jobs were most likely created in China. What is very disturbing is that the unemployment records in Reagan’s time was the actual unemployment, Now in this administration they only records the percentage of people receiving unemployment benefits! That would mean unemployment of around 20% for the United States now! What about the last quarter of last year when more than 800,000 jobs were lost? Oh! Oh! sorry I forgot they printed out 10’s of Billions of dollars to help with that. Oh hell! I also forgot most of that was sent over seas for Jihadist Hillary’s snuggle up to the terrorist countries program and their natural disasters! My goodness! My you think they will print up some billions more for the people in Alabama, Tennessee, Mississippi, Missouri, Iowa, Kentucky and Louisiana? hmmm? I wonder how all of them are getting to work? Hope they all got boats! Some 200,000 displaced and climbing I guess according to the liberals they are all working because the unemployment office is flooded! Kinda hard to file your paperwork like that…hmm I guess they will have to go to Mass. to get instant help!