Lawrence Summers, Clinton Treasury Secretary and architect of the Obama plan, recently wrote an article in the Washington Post titled "Romney's fiscal fantasy plan". In it, he criticized the GOP soon-to-be nominee for the fact that his economic plan can't be "scored" by the CBO. He says that tax cuts would only benefit the wealthy instead of having the effect of stimulating economic activity and job creation. Of course, this benefit to the wealthy is only because the people that liberals consider wealthy are those WHO ARE STILL PAYING TAXES! In other words, if you are paying taxes, they want more regardless! But I digress... In the article, he cites CBO publication 42972 (http://www.cbo.gov/publication/42972) as proof that the Obama "budget" would cut the deficits and lead to economic stability. He must have started in the middle or just doesn't comprehend well because the third paragraph states:
"The projected deficits under the President’s proposals would exceed those in CBO’s baseline—a benchmark showing the outcome if current laws generally remained unchanged—by 0.5 percent of GDP ($82 billion) in 2012, by 2.2 percent of GDP ($365 billion) in 2013, and by between 1.4 percent and 1.9 percent of GDP in each year from 2014 through 2022. In all, between 2013 and 2022, deficits would total $6.4 trillion (or 3.2 percent of total GDP projected for that period), $3.5 trillion more than the cumulative deficit in CBO’s baseline."
In other words, between now and 2022, the Obama "budget" will increase the federal deficit by $3.5 trillion more....ONLY BECAUSE OF THE THINGS IN THE BUDGET! Why do I find it incredible that liberals will lie even when citing sources that refute their arguments because they know their sheep/followers will believe what they say and are, for the most part, not willing..or able...to read it for themselves!
