Obama earns 'F' in math with delusional claim that he cut deficits by more than half

Sunday, December 01, 2013 by: J. D. Heyes
Tags: Obama, national deficits, delusional thinking

(NaturalNews) There goes that Barack Obama again, saying goofy, foolish things that only his mother and most ardent supporters would believe.

This whopper is as big as "if you like your [healthcare] plan, you can keep it," and, in the long run, will be just as destructive to our country.

In comments recently made to the Wall Street CEO Council, Obama said his administration has "reined in spending" and as a result "cut our deficits by more than half."

Perhaps Obama forgot for a moment whom he was speaking to. He was addressing a group of people who have spent their lives dealing in dollars and cents. You can almost hear the collective groans of disbelief.

Obama - 'I've done it all'

"After years of trillion-dollar deficits we reined in spending, wound down two wars and began to change a tax code that I believe was too skewed towards the wealthiest among us at the expense of the middle class," said Obama. "And since I took office, we have now cut our deficits by more than half. Add it all and businesses like yours have created 7.8 million new jobs over the past 44 months, we've gone farther and recovered faster than most other advanced nations. And so in a lot of ways, America is poised for a breakout."

The president should realize that he cannot run for a third term, so maybe now is the time to end the perpetual campaign and understand that, as president, his words are measured much more carefully than they might be on the campaign trail.

For starters, Obama's claim that he and his administration have "reined in spending" is as comical as it is farcical. The White House's own budget figures show that, over the next decade (10 years is the customary budget projection), the U.S. government will add $5.271 trillion to the already sky-high national debt of more than $17 trillion.

Next, understand that Obama's Office of Management and Budget says that the president's fiscal year 2014 budget would add an additional $8.7 trillion to the national debt over the next 10 years, which would bring the country's federal debt to some $25.8 trillion, nearly double the current gross domestic product of about $16 trillion.

The "cuts in spending" Obama is talking about have come in the form of sequester-related spending reductions. In Washington, simply cutting the rate of spending growth qualifies as spending "cuts." This is an old parlor trick, and Obama's far from the only politician to use it.

On to the wars that King Obama has "wound down."

The withdrawal of U.S. forces from Iraq came as a result of the 2008 Status of Forces Agreement (SOFA), which was negotiated by the Bush administration. The only role Obama had in it was sending the boats and planes for our troops to load up.

You can't fudge numbers with numbers experts

And yeah, about that tax code. Obama and Democrats have most definitely raised taxes on the wealthiest Americans - and everybody below them as well. Remember Obamacare? According to Congressman Jeff Duncan's office, the "Affordable" Care Act boosts taxes in 20 ways. The taxes contained in Obamacare are either new or increases in existing taxes. And remember, the U.S. Supreme Court ruled the so-called "individual mandate" - the requirement that all of us have to purchase health insurance - was actually a tax.

Regarding deficits, the Obama administration ran trillion-dollar deficits for four of his first five years in office. This year's budget only produces a deficit of about $800 billion, according to reports.

Wow. What a reduction.

And jobs? Please. This administration has been one of the worst job creators in U.S. history. In fact, that companies are hiring anyone is happening in spite of this administration's abysmal record of employment. Obamacare is a huge jobs killer, and Obama's vastly expanding bureaucracy has targeted industry after industry with costly new regulations that - anyone? - kill jobs. Think coal. Think oil and natural gas. Think manufacturing.

Barack Obama can get away with such lies to the 30 or so percent of Americans who will support him no matter what he does. But when you're lying about fiscal and economic issues, it's a good idea to pick an audience with less business and economic acumen.

Sources:

http://www.breitbart.com

http://usdebtclock.org

http://www.usatoday.com

http://www.cnsnews.com