That gap is unsustainable and will have to be plugged with both spending cuts and revenue increases that ensnare the middle class.
* "Forward" is really backward.
The Obama campaign adopted "Forward" as its slogan for the 2012 election and features it prominently at events. As a rallying cry, it's not much better than backward.
"Forward" was a favorite term of Marxists. Think Lenin's "Spring Forward" and Mao's "Great Leap Forward."
When Lenin started his own underground newspaper in 1905, he called it Vperyod (Forward). "Forward" is still popular nomenclature for socialist publications.
Someone on Team Obama either doesn't know history or has a warped sense of humor. If the president's advisers were looking to counter the accusation that Obama is a socialist, invoking Lenin was a bad choice.
* Medicare, not Granny, is going over the cliff.
Forget the back-and-forth accusations about which party plans to raid Medicare to the tune of $716 billion and deprive seniors of their due.
Democrats still want us to believe Medicare as we know it can be preserved. It can't. It has been running a cash-flow deficit since 2008 and will go broke in 2024.
Medicare can be reformed, retooled or revamped, but it can't continue in its present state.
Like health care for the non-elderly, Medicare's costs are being exacerbated by the fee-for-service structure.
Just recently we learned that electronic health records, an initiative subsidized by the government, are making it easier for providers to overbill for services. Oops.
Hospitals received $1 billion more in Medicare reimbursements in 2010 than in 2005 just by jiggering billing codes, according to a recent New York Times expose.
Health care reform without a change to the fee structure is folly. That applies to Medicare as we know it and to Medicare 2.0.
* A Volt in every driveway?
The 23 million unemployed and underemployed Americans must be wondering about all the fuss over a $40,000 plug-in hybrid car. Hoping to turn that fuss into sales, General Motors cut the sticker price on its Chevy Volt by 25 percent.
With an array of government subsidies and tax credits for GM and its suppliers - and even a hefty tax credit for buyers - the Volt has literally been willed into existence.
With the nation awash in cheap natural gas, it seems like an odd time to throw money at an electric car. We really can live without a Volt in every driveway.
I could go on, but confronting five truths in a single sitting is probably more than the Democrats can handle.
Caroline Baum, author of "Just What I Said," is a Bloomberg View columnist.