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The Arithmetic of the President’s $4 Trillion Deficit Reduction Claim
September 7, 2012
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Despite claims that the President has a $4 trillion deficit reduction plan, the President’s own budget shows only a $2 trillion reduction in the deficit over 10 years, while the debt increases by $11 trillion.
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After removing gimmicks and using CBO data, the President’s budget shows only $577 billion in deficit reduction over 10 years.
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In contrast of the claim of $2.50 in spending reductions for every $1 in tax increases, the President’s own budget actually shows $20 in tax increases for every $1 dollar in spending cuts.
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After removing gimmicks, the President’s budget would actually increase spending by 83 cents for every $1 it raises in new taxes.
Read full report HERE.
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