MSNBC's Andrea Mitchell Reports on Monday featured the Acting Director of the Office of Management and Budget (OMB) to bizarrely state that Barack Obama had introduced a "balanced budget." Unfortunately for Jeffery Zients and the liberal cable network, it is hard to hide the fact that the President’s proposal actually projects a budget deficit of $1.33 trillion for the fiscal year 2012, according to the Wall Street Journal.
When asked what he thought about the Republican Senate renaming the proposal ‘Debt on Arrival,’ Zients stated, “I think the President has put forward today a balanced budget.” For the country to have a balanced budget, its spending must match its revenue, and the country has not come close to that feat in some time now. Obama’s proposal marks the fourth straight year of budget deficits exceeding a trillion dollars. [See video below. MP3 audio here.]