- Joined
- Jul 29, 2009
- Messages
- 34,478
- Reaction score
- 17,282
- Location
- Southwestern U.S.
- Gender
- Male
- Political Leaning
- Conservative
CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed
by Andrew Taylor
Associated Press
4/17/2014
WASHINGTON (AP) — A report released Thursday by the nonpartisan Congressional Budget Office says President Barack Obama's budget request would mean significantly larger budget deficits than the White House claims.
CBO says the budget plan proposed last month by Obama would produce deficits of $6.6 trillion over the next 10 years — $1.6 trillion more than the White House estimates.
SNIP
CBO also says Obama's budget contains $1.4 trillion in tax increase over a decade, much more than claimed by the White House. A $456 billion chunk of that comes from higher revenues because of an influx of workers through immigration reform. CBO also notes that Obama's budget contains $193 billion over a decade in new tax credits for the working poor that officially are counted as spending because they're issued as refunds.
Obama's budget claims to reduce cumulative deficits by $2.2 trillion over 10 years, predicting they would drop from $7.1 to $4.9 trillion.
CBO's estimate says Obama's budget, if enacted in its entirety, would only cut deficits by about $1 trillion over that period when compared with current law.
Wrong on multiple levels. The projections in question aren't related to this years budget deficit but rather the long term outlook as outlined in Obama's budget proposal. It would also be a stretch to call the White House projections a lie seeing as they simply used rosier growth and revenue estimates than does the CBO (who has proven to be decidedly pessimistic recently) for the near future. It's an established pattern among politicians of all stripes.
Looks like once again the Obama Administration has been caught lying to the American people... This time it's about how large the this years budget deficit will be, as yesterdays CBO report detailed.
CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed
No one said that :shrug: To use larger growth estimates than the CBO is not lying. You can easily label it as overly-optimistic, naive, or even misleading, but to call it lying would be ignoring the very nature of projections.Yes, yes, of course. They all lie so why not Obama.
So Obama's not a liar. He's just an incompetent, naive, "misleader" who will concurrently increase taxes while increasing spending.
I feel much much better now.
No one said that :shrug: To use larger growth estimates than the CBO is not lying. You can easily label it as overly-optimistic, naive, or even misleading, but to call it lying would be ignoring the very nature of projections.
..... How about nows?
But as the report states, Obama's budget that he proposed last month has $1.4 trillion in tax increase over the next 10 years, which is "much more than claimed by the White House". He has taken the tax revenue numbers and jacked them up to make people believe that the deficit will be smaller that it will be... He has $193 billion in tax credits that he didn't count as spending, when that is precisely what they are. He also estimated nearly half a trillion dollars in revenue based on immigration reform that hasn't even come close to passing into law.
If you don't consider that to be lying, then what exactly would you call it?
If it were a slight discrepancy between the 2 it wouldn't be big deal, but Obama's estimated savings is more than double that of what the CBO estimates... And when you are talking about trillions of dollars, that's fricken huge.
Yeah, and the trick that wasn't so hidden.....huh. :lol:
CBO also notes that Obama's budget contains $193 billion over a decade in new tax credits for the working poor that officially are counted as spending because they're issued as refunds.....snip~
Obama had no real world experience before he became the most powerful man in the world. Do you really think he understands the difference between a debit and a credit?
He's an incompetent boob and he was caught here.
So Obama's not a liar. He's just an incompetent, naive, "misleader" who will concurrently increase taxes while increasing spending.
I feel much much better now.
As long as the spending isn't on wars like Iraq it's a good thing. Then the taxes are investments in our future. That's a winning combination that's worked before.eace
Yes, it's always a good thing when the President runs up deficits and is so clueless that he doesn't understand his own budget. Especially when it's Obama, right?eace
He said he wouldn't raise taxes. Ooops. Chalk up another lie for Obama.
No one said that :shrug: To use larger growth estimates than the CBO is not lying. You can easily label it as overly-optimistic, naive, or even misleading, but to call it lying would be ignoring the very nature of projections.
Wrong on multiple levels. The projections in question aren't related to this years budget deficit but rather the long term outlook as outlined in Obama's budget proposal. It would also be a stretch to call the White House projections a lie seeing as they simply used rosier growth and revenue estimates than does the CBO (who has proven to be decidedly pessimistic recently) for the near future. It's an established pattern among politicians of all stripes.
OF-COURSE they used "rosier growth" estimates.
Thats highly dishonest considering the " growth " they've produced over the last 5 years.
The CBO is just being realistic.
Look, ObamaCare is hurting our economy, and is extending the recession like Conservatives predicted.
And it will grow our debt.
Yes, yes, of course. They all lie so why not Obama.
Of course most of them didn't claim, when elected, that it was the moment when 'the rise of the oceans began to slow and our planet began to heal'. That was the moment I first became suspicious that the man wasn't always speaking sincerely.
OF-COURSE they used "rosier growth" estimates.
Thats highly dishonest considering the " growth " they've produced over the last 5 years.
The CBO is just being realistic.
Look, ObamaCare is hurting our economy, and is extending the recession like Conservatives predicted.
And it will grow our debt.
Thanks for that independent analysis. Did you get the 2016 Obama's America collectors edition? I hear it comes with an authentic swatch of the hut that Obama was born in.To not call it lying would be ignoring the very nature of Obama.
:lol: The recession ended four and a half years ago.
What the **** are you yammering about, and what the **** does it have to do with anything relevant? Oh yeah, it doesn't.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?