Obama exaggerating deficit reductions

At his press conference this week, President Obama made it seem as though the job of getting the government’s deficits under control is nearly done.

“The consensus is we need about $4 trillion to stabilize our debt and our deficit,” he told reporters, “which means we need about $1.5 trillion more.”

Obama claimed to have already cut spending $1.4 trillion, and this, combined with $600 billion in tax hikes he got as part of his fiscal cliff deal plus interest savings, “adds up to a total of $2.5 trillion.”

All that’s needed now to finish the job, he said, is “closing some additional loopholes (and) doing some additional cuts.” Sounds easy enough. In fact, Obama said he’s already put forward a plan to do that.

But a closer look at the numbers shows that Obama is exaggerating how much deficit reduction he’s actually achieved, and is being decidedly Pollyannaish about the nation’s still massive long-term budget gap and what will be needed to close it.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • awfulorv

    It appears Hawaiians are attempting to usurp the title of worlds premier story tellers from the Irish and have recently, ridden giant waves, on their Redwood sized surfboards, to do just that. First there was Obama, and his “up by the bootstraps” tale of accomplishments which, in the greatest sustained crap shoot in history, with the able assistance of his Stickmen, the mass media, has garnered himself two terms as POTUS, and, quite likely, the Dictatorship of North, and South America, including the Maritime Provinces. Take that Hugo…Now “the great uninformed” have had foisted upon them, by the same unquestioning media, the tear jerking tale of Manti T’eo, Notre Dame linebacker, of Mormon faith, as one writer, felt the need to identify, and his beloved, non existent, girlfriend, who as the story goes, had recently succumbed to the ravages of cancer. Would Someone please notify Barbra, and Robert, I think they’re owed residuals by these plagiarists. This ridiculous, and sustained, sob story would have, within ten minutes, been exposed any one of twenty legitimate sports scribes, not thirty years ago. Largely because of this tale, this guy finished second in the Nobel, err.. Heisman trophy race, won numerous defensive awards, and Notre Dame was ranked #1 in the country, before being thoroughly beaten by Alabama, that is.