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New Math: President Obama
Exaggerates Deficit Savings

Investors Business Daily, by John Merline

Original Article

Posted By:Desert Fox, 1/15/2013 7:23:15 PM

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." Obama claimed to have already cut spending $1.4 trillion, and this, combined with $600 billion in tax hikes he got as part of his fiscal cliff deal plus interest savings, "adds up to a total of $2.5 trillion."

  

Post Reply  

Reply 1 - Posted by: viking diver, 1/15/2013 7:38:26 PM     (No. 9118777)

Wow zero throws around the trillion number like its a couple of bucks.... what an absolute nincompoop. Why doesn´t he submit a budget, why doesn´t congress pass a budget, oh never mind I know the answer.
If I did my job that way I would be fired in a NY minute, and you can take that to the bank and cash it.


Reply 2 - Posted by: Vivi, 1/15/2013 7:43:31 PM     (No. 9118784)

Democrats are anti-math. Somehow the intelligentsia doesn´t care.


   

 

  


 
Reply 3 - Posted by: halfnorsk, 1/15/2013 8:23:31 PM     (No. 9118840)

Correction: "President Obama Exaggerates Just About Everything." There, fixed it.


Reply 4 - Posted by: Trigger2, 1/16/2013 4:07:51 AM     (No. 9119220)

$4 trillion more? He forgot to include Obamacare, so make that $4T into $15T.



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The budget President Barack Obama will submit on April 10 will contain a proposal that would prohibit individuals from accumulating more than $3 million in Individual Retirement Accounts (IRAs) and tax-preferred retirement accounts. According to a White House statement, the Obama administration believes the current rules allow some wealthy individuals "to accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving." "The budget would limit an individual’s total balance across tax-preferred accounts to an amount sufficient to finance an annuity of not more than $205,000 per

   

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