Friday, October 26, 2012

Obama Claims He Has A $4 Trillion Deficit Reduction Plan But The Obama Campaign Admits His Math Comes Up Short

On Leno, Obama Admits He Can't Do Math Above 7th Grade Level ... Yeah, We Know
The Math Doesn't Work

CLAIM: Yesterday In Ohio, Obama Said Of His Plan "The Math Works" For His Alleged Plan. OBAMA: "I've got a plan that will actually create jobs, a plan that will actually create middle-class security. And unlike Mr. Romney, I'm proud to talk about what is actually in my plan because my plan adds up. The math works. If you want to take a look, go to" (President Barack Obama, Remarks At Campaign Event, Cleveland, OH, 10/26/12)
REALITY: CNN's Erin Burnett Fact Checks Obama's Deficit Plan Again And While "The Obama Campaign Did Not Exactly Like Our Analysis But They Also Didn't Exactly Disagree With Us." CNN's ERIN BURNETT: "The plan doesn't exactly add up. Inside the glossy it says, President Obama's plan reduces the deficit by more than $4 trillion over the next decade but how he's going to do it, well that's still a bit of a mystery. Of course, the Obama campaign did not exactly like our analysis but they also didn't exactly disagree with us." (CNN's "Out Front With Erin Burnett," 10/26/12)
  • CNN's Erin Burnett: "Does It Add Up To The President's Promise Of Cutting $4 Trillion From The Debt? Well, No." CNN's ERIN BURNETT: "But does it add up to the President's promise of cutting $4 trillion from the debt? Well, no. The nonpartisan CBO analyzed this budget and concluded and I'll quote them: 'Over the 2013-2022 period, the cumulative deficit that would result from enacting the President's budget - $6.4 trillion (or 3.2 percent of GDP) - would be $3.5 trillion larger than the cumulative deficit projected under current law.' So, that's $3.5 trillion in new borrowing they have to pay for before they even start the $4 trillion in cuts." (CNN's "Out Front With Erin Burnett," 10/26/12) 

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