Walter Cronkite's longtime producer Leslie Midgley once wrote that, "News is what an editor decides it is." News today is what TV producers decide can help President Obama. News that hurts isn't news at all.
The deficit for last year was $1.4 trillion. The deficit rose as a share of the gross domestic product from 3.1 percent in 2008 to 9.9 percent in 2009, the highest deficit as a share of GDP since 1945. The projected deficit for the fiscal year that ends in September is another $1.3 trillion.