Obama’s Lies About Federal Spending

Bat One • July 27, 2010

As the nation’s economy starts sliding back into “double-dip” territory, which would translate into a federal budget deficit higher than the record $1.47 trillion announced by the Obama White House last week, it’s worth recalling what candidate Obama had to say about his plans for budgets and federal spending.

“(W)hat I’ve done throughout this campaign is to propose a net spending cut…. What I want to emphasize … is that I have been a strong proponent of pay-as-you-go. Every dollar that I’ve proposed, I’ve proposed an additional cut so that it matches.”

-candidate Barack Obama during the second 2008 Presidential debate

Its Obama’s budget, and Obama’s deficit. Period.

Tags: Barack Obama, big government, Economy

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You mean Obama lied?

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And he can do it while smiling.

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lying bastard, to be specific
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He spent it, he didn't pay for it.
joey

Drudge has posted some CBO blog that seems to state that things are unraveling now,as we speak!
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Ah that was just his normal lip service to quell any anger that may be floating about . It is the rules of engagement for his party that you ignore the truth and full steam ahead on the lie . call names, insult, and trash, and lie that is what they do best . I think pay go went out the window about 5 minutes after they passed it .
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Would it be more of a story if Obama did not lie?
Just sayin

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Obummer lied …….. omg …. say it isn't so ………

or better yet, when did he tell the truth????
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You got it. Obama is making Carter look competent and Clinton look honest–at least in comparison.

j.b.

wwwwaaaaaaaaaaaaaiiiitttt a minute, you mean a politician lied? i dont believe it. even the demigod obama? come on. before you know it you will say that pelosi i a nice person that is a super model at night, and reid is just a smart gentleman that is just trying to help out his constituents.
the only thing i believe that obama has not lied about is he wants to change america!
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Saying it won't make it true. A differing view from someone a lot smarter than Bat Sh*t:

The political genius of supply-side economics http://blogs.ft.com/martin-wolf-exchange/2010/07/…

Since the fiscal theory of supply-side economics did not work, the tax-cutting eras of Ronald Reagan and George H. Bush and again of George W. Bush saw very substantial rises in ratios of federal debt to gross domestic product. Under Reagan and the first Bush, the ratio of public debt to GDP went from 33 per cent to 64 per cent. It fell to 57 per cent under Bill Clinton. It then rose to 69 per cent under the second George Bush. Equally, tax cuts in the era of George W. Bush, wars and the economic crisis account for almost all the dire fiscal outlook for the next ten years (see the Center on Budget and Policy Priorities).

Today’s extremely high deficits are also an inheritance from Bush-era tax-and-spending policies and the financial crisis, also, of course, inherited by the present administration. Thus, according to the International Monetary Fund, the impact of discretionary stimulus on the US fiscal deficit amounts to a cumulative total of 4.7 per cent of GDP in 2009 and 2010, while the cumulative deficit over these years is forecast at 23.5 per cent of GDP. In any case, the stimulus was certainly too small, not too large.

From the Financial Times and a well-known conservative, no less.

Perhaps the smarter conservatives, the ones that aren't subhuman anarchists should call themselves something else.

In any case, the true victims will be you, your families and especially, your children.

Not Again

Every time I see someone saying that previous tax cuts resulted in higer deficits I want to SCREAM. That is misdirection of the most blatant type. Tax cut effects can ONLY be measured by the effect on revenue. PERIOD. These prior tax cuts resulted in increased revenue. Why did the deficit go up? Think about it. The so-called conservative is citing the left wing Center on Budget and Policy Priorities. Claiming supply-side economics don't work when that is clearly untrue is another hint that this 'conservative' is flying false colors. Look at the articles claiming supply-side economics don't work – they cite increased budget deficits – see above. Jeesh – no wonder we have a bunch on morons in elective office. They have no trouble winning voters with arguments that are bold faced obvious lies.

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Virtually every economics Ph.D. who has worked in a prominent role in the Bush Administration acknowledges that the tax cuts enacted during the past six years have not paid for themselves–and were never intended to. Harvard professor Greg Mankiw, chairman of Bush's Council of Economic Advisers from 2003 to 2005, even devotes a section of his best-selling economics textbook to debunking the claim that tax cuts increase revenues.
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