Magicians have a word for it: Misdirection

From the always sharp, under appreciated David Lazarus in the SF Chronicle.

Budget is a bag full of tricks

In February, President Bush unveiled a $2.77 trillion budget for 2006 that featured a projected deficit of $423 billion. He said at the time that his goal was "to bring greater accountability and transparency to the budget process."

Last week, Bush said his economic policies, including almost $2 trillion in tax cuts, had narrowed this year's estimated budget shortfall from $423 billion to $296 billion -- a $127 billion difference.

"The economy is growing, federal taxes are rising and we're cutting the federal deficit faster than we expected," Bush declared.

Magicians have a word for such sleight of hand: misdirection.

After getting Americans to stare open-mouthed at that $423 billion deficit projection -- the largest amount ever in nominal terms -- the president now reveals a shortfall of nearly $300 billion that he claims represents a triumph of fiscal management.

Back in the real world, however, Americans are left with the harsh reality of another year of life under an ostensibly conservative government that has hacked away at revenue while overseeing a 45 percent increase in federal spending since 2001.

Last year's deficit totaled $318 billion. This year it'll be $296 billion (although that figure could still change). Next year, according to White House estimates, the deficit will shoot back up to $339 billion.

Bush called these latest figures "some good news for the American taxpayer."
Right. Mission accomplished.