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Thread: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

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    CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    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
    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.
    CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    The saddest part is that everybody in the world already knew this.

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    But-but-but....Obama doesn't lie!

    Oh hell, what's $1.6 trillion between friends?

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    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.

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by a351 View Post
    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.
    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.

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by Grim17 View Post
    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

    Nice one Grim.....and way to use Huff-Po. Although.....don't forget. Team O.....came out and has denied the truth with Washington's Post Fact Checkers, on the issue of women's wages. Just basically said the Washington Post didn't know what they were talking about. As usual just him.....huh?

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by Grant View Post
    Yes, yes, of course. They all lie so why not Obama.
    No one said that 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.

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    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.

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by tres borrachos View Post
    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.
    ..... How about nows?

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by a351 View Post
    No one said that 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.
    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.

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