Greg Mankiw qualifies! ... for our "Worst Budget Chart Evah" competition, first annual.
In his most recent "cover" piece, they are smoothing 50 years (!!!) of deficits (presumably to avoid having to locate the source of those averages with Reagan and the Bushes...or to include Vietnam to make it look better or who knows, exactly).
Mankiw chooses a chart that doesn't show the massive hole blown into the real economy, with the worst unemployment in the post-war era, which of course makes the Obama administration look horrible.
The truth on unemployment:
And somewhere between a quarter and a half a century down the road, there is a big, menacing yellow arrow, showing deficits!
We can't even get forecasts of the budget that are accurate, let alone precise, for two years out.
Now, I'm all for taking warnings seriously, but, Greg, won't we all be dead or drown by then?:
Projected Sea Levels Under Obama's Budget:
src: epa.gov
Anyway, dear reader, this chart is now in the 'top five', shall we say.
Thursday, February 17, 2011
Projected Sea Levels Under Obama's Budget
