Saturday, February 18, 2012

Obama Lies About $4 Trillion Budget Savings

President Obama lies again. This time he says that his fourth budget has $4+ trillion dollars in spending cuts over 10 years. His own numbers show otherwise. Net spending increases by $1.5 trillion with $1.9 trillion in net tax increases. So over 10 years, the Obama budget would only decrease baseline deficit spending by $400 billion or $40 billion per year on average. This is out of a $3.8+ trillion government budget.

To put this into personal perspective, the government is taking $22,000/year tax free and spending about $38,000/year. Obama proposes to reduce the deficit by $400/year. The proposed reduction comes from robbing the tax payers through additional harmful taxation while increasing spending.

The Obama budget adds $11.2 trillion to the national debt in 10 years. Meanwhile, Obama wants credit for Republican budget cuts from 2011 which he opposed. The President's budget counts war spending as "baseline" spending at current levels for 10 years. War spending is passed as supplemental spending by the congress. The executive branch has little power over such allocations unless it is Obama's intention to engage in new wars for the next 10 years.

TownHall.com has an excellent write up by Guy Benson if you want to pursue more information. They point out the excellent job Paul Ryan is doing fighting the Obama budget lies:
Three clips, each one as delicious as the next.  First, watch House Budget Committee Chairman Paul Ryan systematically destroy the Obama budget "savings" farce, a process made even more enjoyable by acting White House Budget Director Jeffrey Zients' feeble attempts to push back:

2 comments:

K T Cat said...

A link is on the way in a post later today.

Doo Doo Econ said...

Thanks kat!

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