Deficit of candor

"The president went to the East Room to crow that the deficit is now projected to be less than $300 billion this year — 30 percent lower than what the administration had forecast in February. As a result, Bush proclaimed, the administration is a full year ahead of schedule on its goal of cutting the deficit in half by 2009." "This is a time when the country should be — or should have been — conserving resources in anticipation of the retirement of the baby boomers. With entitlement spending on health care and pensions set to explode, the budgetary scenario after 2011 is grim, as the administration itself acknowledges." St. Paul Press via TwinCity.com