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New Math: President Obama Exaggerates Deficit Savings
Investor's Business Daily ^ | 1/15/2013 | John Merline

Posted on 01/16/2013 4:01:10 AM PST by IBD editorial writer

At his press conference this week, President Obama made it seem as though the job of getting the government's deficits under control is nearly done.

"The consensus is we need about $4 trillion to stabilize our debt and our deficit," he told reporters, "which means we need about $1.5 trillion more." [snip]

But a closer look at the numbers shows that Obama is exaggerating how much deficit reduction he's actually achieved, and is being decidedly Pollyannaish about the nation's still massive long-term budget gap and what will be needed to close it.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: debt; deficits; obama; spending

1 posted on 01/16/2013 4:01:25 AM PST by IBD editorial writer
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To: IBD editorial writer

If Obama was right that we needed 4 billion, then we need 8 billion now since his fiscal cliff victory cost us 4 billion versus the infamous baseline. More importantly we need 8 billion of real new cuts not his phantom / double counted/old variety accounting tricks


2 posted on 01/16/2013 4:09:18 AM PST by kushnejz
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To: IBD editorial writer
He's not exaggerating at all.

He's lying.

3 posted on 01/16/2013 4:15:09 AM PST by ClearCase_guy (Nothing will change until after the war.)
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To: IBD editorial writer

Deficit reductions and savings????????????

He’s a crackhead with a bag full of our cash on a freebase smoking spree! 0scumbag’s a delusional marxist, socialist, fascist. commie, racist, muslim, hate-America, liar, lowlife, dirtbag POS!


4 posted on 01/16/2013 4:16:31 AM PST by carriage_hill (AR-10s/15s are the 21st Century's Muskets. Self-Defense is The First Human Right.)
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To: IBD editorial writer
I don't like that website, it has annoying popups.

The problem is that Obama seems to be math illiterate. As are many of his voters. Borrowing to pay bills is simply not sustainable.

"There is," the commission said, "no easy way out of our debt problem."

That would require weaning politicians off of dependent voters. Nope, not going to happen, keeping politicians from buying votes is hard.

5 posted on 01/16/2013 4:49:51 AM PST by exDemMom (Now that I've finally accepted that I'm living a bad hair life, I'm more at peace with the world.)
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To: carriage_hill

“O” and his crowd do NOT comprehend personal effort, achievement, merit, hard-won success OR of course, the material development which grows out of this…(Read: wealth).

Naturally and wholly without compunction, they feel entitled to play fast and dirty with the ‘wealth’ of others… which by the way, THEY feel accumulates to the ‘rich’ because the ‘rich’ have stolen it from someone ELSE, who worked for it.

Really?

Seriously?

The FIFTH GENERATION voluntary bust-out screaming for MORE and MORE of honest taxpayers’ income to get big screen TV’s and free everything HAD wealth that some ‘rich’ guy diddled him out of? Really?

If anyone would objectively break down the preposterous foundation of Liberals’ claims, they couldn’t do it with a straight face.

My grandparents came here in the 20’s and worked like maniacs… in conditions no one on earth would call humane or rewarding. But, the work was there and it would be insane or criminal not to go and get it.

My grandfather robbed NO ONE. He possessed nothing at the expense of the next person. What ever he OWNED he killed himself in a coke mill to get (the most dirty and dangerous work around). He went to work sick and worn out until he was in his 70’s and walked there because he didn’t own a car. He didn’t sit around whining because he couldn’t get into the country club or drive a Rolls Royce!

I am so tired of the lies Liberals throw around! And I am tired of being called ugly names when I am struggling to stay off the dole MYSELF and by virtue of THAT, I AM SUPPORTING the very people who are being demanding and ugly!


6 posted on 01/16/2013 4:52:59 AM PST by SMARTY ("The man who has no inner-life is a slave to his surroundings. "Henri Frederic Amiel)
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To: exDemMom

Someone must publish a list of straightforward definitions of all the technical terms and euphemisms the politicians use. Some terms I would like to have correctly defined include (with my simplistic proposed definition). Please weigh in.

Revenue: taxes, fees and penalties the government collects

Deficit - the amount we spend (or plan to spend) beyond what we collected.

National debt - the amount the federal government has borrowed, to date, to pay the deficits so far.

Politicial - (not suitable for a family audience)


7 posted on 01/16/2013 5:57:43 AM PST by John Galt's cousin (WTF? We couldn't rescue four men in Benghazi? Is our military IMPOTENT? ( /s ))
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To: SMARTY

Ditto everything you said. x10.


8 posted on 01/16/2013 6:08:21 AM PST by carriage_hill (AR-10s/15s are the 21st Century's Muskets. Self-Defense is The First Human Right.)
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To: IBD editorial writer

This is what happens when Democrats have been in control of a state for years. Just imagine how the rest of the country will look after Obama’s home state sets the example.

1 in 3 Illinoisans lives in or near poverty level: report

by maudlyne ihejirika Staff Reporter/mihejirika@suntimes.com January 15, 2013 8:32PM
Updated: January 16, 2013 2:26AM

A staggering one out of three Illinoisans today lives in or near poverty — the peak of a continued climb over three decades, a new study finds.

It means one in five Illinois children are living in poverty, according to the study released Wednesday by the Social IMPACT Research Center of Chicago’s Heartland Alliance for Human Needs & Human Rights.

http://southtownstar.suntimes.com/news/17597167-418/1-in-3-illinoisans-lives-in-or-near-poverty-level-report.html


9 posted on 01/16/2013 6:09:56 AM PST by KeyLargo
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To: IBD editorial writer

He must have learned Math from Calypso Louie.


10 posted on 01/16/2013 7:08:16 AM PST by SandRat (Duty - Honor - Country! What else needs said?)
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To: ClearCase_guy

"He's not exaggerating at all. He's lying."

The problem is, whatever Obama says that isn't publicly and forcefully challenged by Republicans becomes the "truth" in the new culture. If Obama keeps repeating that he "cut the deficit" with his "balanced approach", and the only Repub response is to have its leader mumble and start crying, there are enough low-IQ, low-information people out there who will believe him.

11 posted on 01/16/2013 7:37:55 AM PST by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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