Friday, April 15, 2011
The math is simple, the dishonesty is obvious
Since President Obama doesn't think that Paul Ryan is serious about reducing the deficit, as indicated by his off-the-record comments overheard on a hot mike at a fundraiser I thought I would take the opportunity to expose the President's own lack of sincerity about reducing the deficit. You may recall in his Wednesday speech he said he wanted to reduce the national debt by $4 trillion over 12 years. In the same speech he called for the repeal of the Bush tax cut for those making over $250,000 a year, which would result in an additional $1 trillion in tax revenue. This policy, if followed, would lead to an additional $8 trillion in spending over the 12-year period. The $12 trillion in additional tax revenue minus $4 trillion of reduced spending would equal $8 trillion in increased spending which would raise the national debt to $22 trillion over the 12-year period. The math is simple, the dishonesty is obvious.