Kent Conrad: “reading the Washington Post this morning, I came across this headline which I think is probably the most misleading…”

“reading the Washington Post this morning, I came across this headline which I think is probably the most misleading headline I have seen in the Washington Post, or, for that matter, any other publication. The headline in the Washington Post business section today reads: ``Federal Deficit Likely to Narrow by $100 Billion.'' Boy, what good news, if only it were true. I think you have to ask yourself the question: Are they talking about the deficit last year? Is the deficit this year going to be $100 billion less than the deficit last year? No. That is not what this story is about. In fact, if you read this story carefully, what you find is the deficit is going to be at least $50 billion more than the deficit last year--not $100 billion less. The Washington Post has constructed a headline that is about as misleading as anything I have ever seen a major publication put out. They have basically fallen hook, line, and sinker for the line put out by the White House. Why do I say that? Last year, the deficit was about $370 billion. According to this story, the deficit this year is going to be $50 billion more--a new record deficit. The headline should be ``Record Deficit.'' Instead, they are suggesting the deficit is getting smaller.”