Posted on 10/03/2012 10:47:01 PM PDT by Cincinatus' Wife
"I've put forward a specific $4 trillion deficit-reduction plan," President Obama said during his debate with Mitt Romney on Wednesday night. "It's on a website. You can look at all the numbers, what cuts we make and what revenue we raise."
ABC's Jon Karl correctly calls Obama's claim "mostly fiction."
>>>Does President Obama have a plan to cut the deficit by $4 trillion?
No. The “$4 trillion plan” he is referring to includes about $1 trillion Congress has already agreed to and $1 trillion in savings from ending the wars in Iraq and Afghanistan, which are already ending.
This would be Mostly Fiction.<<<
The Washington Post’s Glenn Kessler has also noted Obama's claim is "simply not accurate," and pointed out that “virtually no serious budget analyst agreed” with the administration’s accounting. Andrew Stiles of the Washington Free Beacon has more on Obama's false budget claim:
>>>Keith Hennessey, a former director of the National Economic Council, estimated the true value of Obama’s deficit reduction—minus these gimmicks—to be about $2.8 trillion, and called even that reduced figure a "generous" assessment.
The president’s budget, for instance, takes credit for about $1 trillion in spending cuts that were already signed into law in 2011, and should already be incorporated given that they fall outside the 10-year budget window.
The budget also includes another $800 billion in phantom savings related to the military drawdowns in Iraq and Afghanistan—money that would never have been spent to begin with—and another $800 billion in projected savings due to reduced interest payments on the debt, something not traditionally cited in federal budget documents as a form of government “spending” that can be “cut."<<<
As Bill Clinton's chief of staff Erskine Bowles has said, the president's budget is simply not a serious budget like Paul Ryan's budget:
>>> “Have any of you all met Paul Ryan? We should get him to come to the university. I’m telling you this guy is amazing. ... He is honest, he is straightforward, he is sincere. And the budget that he came forward with is just like Paul Ryan. It is a sensible, straightforward, serious budget and it cut the budget deficit just like we did, by $4 trillion. … The president as you remember, came out with a budget and I don’t think anybody took that budget very seriously. The Senate voted against it 97 to nothing."<<<
bidet = budget; curse you spell check!”””
NAH—you were closer to correct with the first word!!!
Does anyone here on FR have a clear answer about the 1% ‘transaction tax’ which is supposed to be started on Jan 1st, 2013???
I am getting conflicting answers about whether it is happening or not.
The president's budget? Any budget he has submitted has been voted down, even by his own party! He has been operating with NO budget his entire term, courtesy of Harry Reid!
Step #1) Run up a $2T annual deficit
Step #2) Stop running up a $2T annual deficit
Over 4 years, you will have cut $8T from the deficit. Simple really.
He's the only reason I feel better about voting for Romney. I've heard him before when he was fighting with Congress about the out-of-control spending. I hope he gets help from the other Tea party reps when he gets into office.
sorry but ROFLMAO
Sometimes a mistake turns out to be the right thing. Is there a word for that?
blunderboon
I like it and I'm going to use it.
Nah, just taking turns.
Just watched an Obama ad with Andrea Mitchel stating statistics basically calling Romney a liar.
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