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From: Sr K10/22/2022 1:03:37 AM
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President Rumpelstiltskin

The White House tries to spin economic straw into political gold.

By The Editorial Board

Oct. 21, 2022 6:29 pm ET

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Wonder Land: Biden turned left, so Democratic candidates now own the social disruption of their policies. Images: AP/Reuters/AFP via Getty Images Composite: Mark Kelly

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(2 minutes)

The White House doesn’t have much good economic news to report these days, so sometimes it pretends that the straw it’s selling is really gold. That was the case Friday when President Biden and his economic advisers claimed that a $1.4 trillion budget deficit for fiscal 2022 was a great fiscal and economic success.

“Today my administration announced that this year the deficit fell by $1.4 trillion—the largest one-year drop in American history—$1.4 trillion decline in the deficit,” President Biden said in remarks at the White House. Readers who are dieters will appreciate his logic: Gain 100 pounds, but then lose 50 and you can qualify to be a contestant on “The Biggest Loser.”

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