Skip to comments.ABC: Obama Falsely Claims He Has a Plan to Cut $4 Trillion from the Deficit
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 Posts Glenn Kessler has also noted Obama's claim is "simply not accurate," and pointed out that virtually no serious budget analyst agreed with the administrations 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 Obamas deficit reductionminus these gimmicksto be about $2.8 trillion, and called even that reduced figure a "generous" assessment.
The presidents 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 Afghanistanmoney that would never have been spent to begin withand 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. Im 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 dont think anybody took that budget very seriously. The Senate voted against it 97 to nothing."<<<
What also has been failed to be mentioned is that the wars were financed with borrowed money.
So, if the amount “saved” by ending the wars was $1T and Obama wants to spend $500B of the “savings” domestically - he has to borrow $500B MORE, or print “Mo’ Money” [driving down the value of the dollar further] ...
Clinton must be REALLY pissed!
He was at UNH today espousing O’Bambies record.
Who gave Barack the “fun pills “again?
Did hell just freeze over or did ABC just call out Obama for one of his lies
Blood in the water.
Poor DU...their last hope was that some “fact checkers” would tell America about all the lies Romney told.
Just wait when DU finds out what reality really is..
bidet = budget; curse you spell check!
I don’t buy it. VOIDH
Chicago Tribune: “................Both of these men boast Ivy League degrees. And each has shown himself capable of tremendous personal achievement.
But on Wednesday night, one man behaved as if he wanted to use what he has learned in life to lift America from its torpor. The other man behaved as if he was still strolling across Harvard Yard.”
Isn’t that one of them bathroom thingys?
Obozo also claimed to have a plan to get us out of Iraq by May of 2008...
It's what he uses to send his Executive Orders and budgets out with.
I created an “Obama Lies” file on my computer. It is getting so filled I’m going to need another computer.
Kinda like all the stuff under Obama’s bus - piling up high and deep.
Bidet? He sends a Biden all the time. That functions better than both a budget and a bidet.
Maybe he is keeping all the crotch-washers, er, bidets for himself?
I know you fixed it in the next post but I got this mental picture of a truck unloading a bunch of porcelain fixtures at the Senate Office Building... or maybe it was Bwarney Fwrank's place, whatever..
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?
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.