Bill Hobbs points out, via HobbsOnline:

“What the press – and Democrats seeking to unseat Bush – will be discussing in the hours and days ahead is the CBO’s projection of a $477 billion deficit for the year, which is, in fact, larger in actual dollars than any previous year’s deficit.”

But Hobbs points out that if you factor in inflation, that:

“To be a record in the modern era (since 1940) the federal budget deficit for this year would have to top $3.49 trillion.”

Uh… that’s about 7 times the current levels, gang.

Bill goes on to point up:

“The Democrats have an excuse for not presenting a meaningfully accurate analysis of the CBO projection – they’re spinning the data to try to wrest the White House from President Bush. But the news media has no excuse.”

Sure they do, Bill… You need to understand… and you should… their aims are one in the same with the left; The press IS the left.