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Morning Bell: Obama's Fake Budget Marketing Exposed
Posted By Romina Boccia On April 12, 2013 @ 7:09 am In Economics | Comments Disabled
President Obama is marketing his new budget by saying it has “more than $2 in spending cuts for every $1 of new revenue.”  Is this true?
In a word, no.
In fact, his spending increases and advertised spending cuts cancel each other out—leaving only a massive tax increase.
The President cancels sequestration’s spending cuts—therefore raising spending—by the same amount that he reduces spending. When that’s done, all that’s left is a $1.1 trillion tax hike.
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Here’s the math :
So President Obama’s spending cut claim doesn’t hold up, and Americans get stuck with a $1.1 trillion tax bill. Real math hurts.
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Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2013/04/12/obama-budget-obamas-fake-budget-marketing-exposed/
URLs in this post:
 more than $2 in spending cuts for every $1 of new revenue.”: http://www.whitehouse.gov/omb/overview
 Image: http://blog.heritage.org/wp-content/uploads/BL-obama-budget-all-taxes-not-cuts-600.jpg
 Tweet this: http://clicktotweet.com/VxMdr
 Here’s the math: https://docs.google.com/file/d/0B8se_y_wFVyIV3ZPV2RHaW1jVmM/edit
 Treasury Department’s “Green Book.”: http://www.treasury.gov/resource-center/tax-policy/Documents/General-Explanations-FY2014.pdf
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