Repeat After Me: The Deficit Is Falling. The Deficit is Falling.


Dave Weigel notes a conundrum today: according to a new poll, 54 percent of the public disapproves of Barack Obama’s handling of the deficit. And yet, as the chart on the right shows, the deficit is shrinking dramatically. Last year it dropped by $200 billion, and this year, thanks to a recovering economy, lower spending from the sequester, and the increased taxes in the fiscal cliff deal, it’s projected to fall another $450 billion.

Weigel notes that this has deprived conservative yakkers of one of their favorite applause lines: “You don’t hear Republicans lulz-ing at Obama for failing to ‘cut the deficit in half in my first four years,’ because he basically did this, albeit in four and a half.” That’s true. It’s also true that contrary to Republican orthodoxy, it turns out that raising taxes on the rich does bring in higher revenues and therefore reduces the deficit.

Bottom line: It’s unfortunate that the deficit is falling so fast. It’s a headwind against the recovery that we don’t need. Nonetheless, the deficit is falling fast, and no one seems to know it yet. The chart above is one that deserves much wider distribution. Be sure to show it to your conservative friends at every opportunity.

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WE'LL BE BLUNT.

We have a considerable $390,000 gap in our online fundraising budget that we have to close by June 30. There is no wiggle room, we've already cut everything we can, and we urgently need more readers to pitch in—especially from this specific blurb you're reading right now.

We'll also be quite transparent and level-headed with you about this.

In "News Never Pays," our fearless CEO, Monika Bauerlein, connects the dots on several concerning media trends that, taken together, expose the fallacy behind the tragic state of journalism right now: That the marketplace will take care of providing the free and independent press citizens in a democracy need, and the Next New Thing to invest millions in will fix the problem. Bottom line: Journalism that serves the people needs the support of the people. That's the Next New Thing.

And it's what MoJo and our community of readers have been doing for 47 years now.

But staying afloat is harder than ever.

In "This Is Not a Crisis. It's The New Normal," we explain, as matter-of-factly as we can, what exactly our finances look like, why this moment is particularly urgent, and how we can best communicate that without screaming OMG PLEASE HELP over and over. We also touch on our history and how our nonprofit model makes Mother Jones different than most of the news out there: Letting us go deep, focus on underreported beats, and bring unique perspectives to the day's news.

You're here for reporting like that, not fundraising, but one cannot exist without the other, and it's vitally important that we hit our intimidating $390,000 number in online donations by June 30.

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