In a report that is so riddled with bias and factual errors it's hard to know even where to begin, Associated Press Writers Tom Raum and Andrew Taylor yesterday gave making President Obama look like a born-again deficit hawk their best shot.
The pair's work is partially saved here for fair use, discussion and in this case entertainment purposes.
The biggest error Raum and Taylor made was publishing the following "we wish it were true" statement:
The national debt is the accumulation of annual budget deficits. The deficit for the 2009 budget year, which ended on Sept. 30, set an all-time record in dollar terms at $1.42 trillion.
Well, Tom and Andy, using this readily available tool, if that's the case, why was the national debt on September 30, 2008 $10.02 trillion and then $11.91 trillion on September 30, 2009? That's a difference of $1.89 trillion, a whopping $470 billion more than the past year's $1.42 trillion deficit.
The answer is, sadly, that the national debt is NOT the accumulation of annual budget deficits, as shown in the graphic that follows: