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

Grim17

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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
 
The saddest part is that everybody in the world already knew this.
 
But-but-but....Obama doesn't lie!

Oh hell, what's $1.6 trillion between friends?
 
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.
 
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.
 
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?
 
Yes, yes, of course. They all lie so why not 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.
 
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.
 
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.

therethere.gif
.....
hug_smiley.gif
How about nows?
V4yc9.jpg
 
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.

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.
 
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~
 
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.
 
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.

Oh I know.....I have been on top of what he has been about since he Lost to Boobie Rush for a Congressional Seat. Even the new Book out on Hillary is showing some things about Obama. Especially how he has dealt with some things on the fly. Even changing up and going with what Hillary team said after she disagreed with him. Like On Egypt.
 
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. :peace
 
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. :peace

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?:peace

He said he wouldn't raise taxes. Ooops. Chalk up another lie for Obama.
 
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?:peace

He said he wouldn't raise taxes. Ooops. Chalk up another lie for Obama.

Greetings, tres borrachos. :2wave:

:agree: I read that there are something like 22 new taxes connected with the ACA heading our way. Whether he said he's not "raising existing taxes," but instead he will be instituting new taxes that we haven't had to pay before, the end result is the same - we will soon be paying more in taxes than we did before! Period!
 
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.

To not call it lying would be ignoring the very nature of Obama.
 
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.
 
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.

Keep in mind that the CBO has also proven to be overly bearish in terms of deficit and revenue projections in recent years.

Look, ObamaCare is hurting our economy, and is extending the recession like Conservatives predicted.

And it will grow our debt.

:lol: The recession ended four and a half years ago.
 
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.

What the **** are you yammering about, and what the **** does it have to do with anything relevant? Oh yeah, it doesn't.
 
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.

You mean the recession we're not in and haven't been since before Obamacare was implemented? That recession?

It amazes me the stuff you people will just make up in order to take another shot at Obama. I don't even like the guy and I find myself having to defend him from the just plain stupid attacks you guys concoct.
 
To not call it lying would be ignoring the very nature of Obama.
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.
 
:lol: The recession ended four and a half years ago.

If you are a democrat voter, a democrat supporter or Obama supporter, I wouldn't broadcast that if I were you... Because by doing so, you are saying that this is what 4 and a half years of recovery looks like to Obama and the democrats.
 
What the **** are you yammering about, and what the **** does it have to do with anything relevant? Oh yeah, it doesn't.

Why must everything repeatedly be explained to you?
 
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