THE WRONG QUESTION AT THE WRONG TIME.... CBS News sent around a press release yesterday afternoon about a special "In Focus: Debt and Deficit," hosted by Katie Couric.
The release noted, "With this year's record-breaking deficit of $1.5 trillion -- the biggest ever in U.S. history -- and the national debt reaching a whopping $14 trillion, Americans are now faced with making tough choices in order for the country to dig itself out of its national financial mess."
The press release happened to be wrong. The deficit isn't $1.5 trillion; it's $1.29 trillion. The deficit also isn't "the biggest ever in U.S. history," neither in real terms nor in percentage of GDP. The national debt hasn't reached a "whopping $14 trillion" yet, either. All of these errors were in the first paragraph.
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