Martin Crutsinger (AP Spinmeister)

"The Congressional Budget Office predicts the deficit for the full year, which ends on Sept. 30, will total $1.17 trillion. That would be a slight improvement from the $1.3 trillion deficit recorded in 2011, but still greater than any deficit before Obama took office.  One positive sign this year is the deficit is growing more slowly than last year."

Yippee!  WoooHoo!  What fantastic news.  Obama isn't going to break his own record for deficit spending; he's ONLY going to get to around $ trillion, not over it...As if that's a good consolation.

That said, this reporter's 'good news' couldn't be BS, could it?

"During the final three months of fiscal 2011, the government ran a deficit of $326 billion, which is why the following statement found in Crutsinger's Thursday afternoon report is such a howler.  Marty, he's going to be really lucky if it comes in below $1.2 trillion." - Tom Blumer

Ah, man!  I can't believe someone from the Mainstream Media would accidentally get this wrong...Must not have been an accident.

"Unfortunately, the officially announced deficit is only half the story - literally. During June, the national debt increased by almost $86 billion, $26 billion more than June's deficit. The possibility that the U.S. might reach the currently legislated debt ceiling of $16.394 before Election Day still remains. Crutsinger didn't deal with that sad reality at all." - TB

We are so F'd!