This article from the Free Beacon explains what a hoax BO’s $4 Trillion “debt reduction” plan, which Americans will hear touted constantly by the media until election day, is.
Understand the gimmickry of the Obama claims by reading the full article. Phantom Savings — Obama’s debt-reduction plan is filled with gimmicks
Excerpts:
However, as Glenn Kessler, the Washington Post’s in-house fact-checker, has made clear: “The repeated claim that Obama’s budget reduces the deficit by $4 trillion is simply not accurate.”
“Virtually no serious budget analyst agreed” with the Obama administration’s accounting with respect to the $4 trillion figure, Kessler found.
. . . The Office of Management and Budget (OMB)’s own figures reveal that Obama’s budget would net just $14 billion in reduced federal spending over the next decade, compared to its baseline projections, which effectively represents the status quo.
. . . The result was a plan full of gimmicks, and imaginary savings, that is not “balanced” at all. Ultimately, Kessler notes, “most of Obama’s claimed deficit reduction comes from his proposed tax increases.”
DLH
