Savings, real or imagined?

Treasury Secretary Timothy Geithner on Friday defended the White House approach to the deficit as his department officially confirmed a fiscal 2012 deficit of $1.089 trillion.
That figure is $207 billion less than in 2011, and $238 billion less than forecast in February. So there you have it, policies are working. Clearly 238 billion in deficit reduction. Perhaps in FY 2013 we can have another trillion deficit, but come in another 238 under budget, then in two years we will have reduced the deficit by over half a trillion dollars. mmmmm, cool-aid, delicious. Deficit spending and debt.... What, me worry? No worries mate, QE 8 will solve this, no, really.