Cato is a THE libertarian think-tank. Way back on this thread (before #50) I posted an article including a link to a conference held at Cato regarding the President's proposal. The post is worth a read.
I read your earlier posts (and I have heard of the Cato Institute). I did not view the video that you linked to, and I gather I would have seen the misrepresentation you refer to exhibited there. I'll take your word for it that it happened.