Forward with Tricky Obama!
There was tremendous competition for President Obama’s most successful lie, but pretending he cut the deficit in half is by far his most creative and effective lie. The people are buying it and are still blaming Bush! Bravo Mr. President!
If you like creative accounting gimmicks or if you are Bernie Madoff, ya’ gotta love this lie. It’s based on the principle that people don’t understand or want to understand what is going on with spending bills, the budget or the debt, and deficits.
If you believe Mr. Obama cut the budget deficit in half you could be doing Obama math.
Mr. Obama came by his figures using creative accounting. He is claiming that with the cuts he has made to future spending, the deficit spending in his FY2013 budget is not really over a trillion dollars, it’s actually $700 billion. It’s still not half, but no one will notice such a triviality.
The record-breaking federal spending for FY2013 is $3.77 trillion. He ‘cut’ the budget by $1.8 trillion on top of a previous $2.5 trillion in cuts over ten years. The revenue to offset these faux cuts are mostly from new taxes.
One problem is that the cuts are cuts to the increase in spending over the next ten years. A new administration will be in charge and there is no way Mr. Obama can include proposed future cuts he can’t control as part of his current budget, but he is!
The other problem is that mid-decade, the deficits begin to rise again and will be unsustainable by 2023, causing a financial crisis according to the CBO.
In addition, Mr. Obama counts Bush’s last budget as the only budget that matters. He then compares his budgets to that one out-of-the-ordinary budget.
Bush’s last budget included the tax cuts resulting from the American Recovery and Reinvestment Act of 2009 which accounted for nearly half of the lost revenue. TARP (Troubled Asset Relief Program) accounted for $245 billion of the budget. Bush is given credit for Obama’s $410 billion dollar porkulus bill in 2009. Mr. Obama spent half the TARP as well. The money from this 2009 budget was to rescue the economy. It added up to $1.45 trillion.
The fact is that Mr. Obama inherited a National Debt of $10.5 trillion. The debt is now about $16.9 trillion. He increased our debt by $6.4 trillion and counting. That is a schmucktastic $1.4 trillion a year in deficit spending. That really is all anyone needs to know.
If that is not enough, there is more detail to clarify it all.
In 2008, the federal government spent $2.9716 trillion. In 2012, the federal government spent $3.538 trillion. In 2008, the deficit was $454.8 billion. In 2012, it was $1.2967 trillion.
Bush averaged $607 billion a year in deficit spending. Bush accumulated $4.899 trillion of debt in 8 years. Mr. Obama averaged an annual deficit of $841.9 billion. Obama has accumulated $6.4 trillion of debt in 4 years.
To show you how creative Mr. Obama is, I must share with you what I think will be his next most successful lie. It’s ingenious.
At a recent Business Roundtable headquarters in Washington, D.C., Obama said:
“Now, this debt ceiling – I just want to remind people in case you haven’t been keeping up – raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you’ve already racked up, Congress. It’s a basic function of making sure that the full faith and credit of the United States is preserved.”
Mr. Obama has bullied Congress into passing – barely – the $831 billion Stimulus package. Obamacare will be an unsustainable, unmitigated disaster.
Somehow he has twisted this into Congressional spending that he has nothing to do with.
He’s responsible – HE is!
Mr. Obama then said this:
“It’s always a tough vote because the average person thinks raising the debt ceiling must mean that we’re running up our debt, so people don’t like to vote on it, and, typically, there’s some gamesmanship in terms of making the president’s party shoulder the burden of raising the – taking the vote.”
Now here is where he is really insulting our intelligence but he’s probably right. Most will fall for it.
He says raising the debt ceiling to cover the deficit is not making way for the increased debt that he is racking up with his budgets. To add insult to injury, he then blames Republicans for not wanting to pay the bills he racks up.
It’s absolutely brilliant!
In a speech last week, he said that he cut the deficit in half and there is reason to believe he is cutting it too much!!! Man, that’s good. It’s a lie but it’s elegantly done.
I shouldn’t call these spending bills ‘budgets’ since he can’t get a budget passed. His own Democratic members won’t vote for his Big Government budgets. Instead we have spending bills.
People don’t seem thrilled with the spending but if Republicans try to stop it, they are painted as right-wing nut jobs and polling numbers go against them, forcing them to back off. Then the conservatives become angry because Republicans appear spineless as deadline after deadline passes.
Mr. Obama also likes to say that he saved money ending the two mid-East wars but we have yet to see that money go back to taxpayers.
Mr. Obama likes straw men. He pulls your attention in one direction with one hand while he’s moving the pieces on the chessboard with the other.
Mr. Obama believed raising the debt ceiling did reflect an increase in debt before he didn’t.