Obama disproves Obama

[Jeffwhosoever]

Well Obama has caught himself in a trap. Did anyone hear in the debate that Obama wants a "balanced" deficit reduction plan of $1 in taxes for $2.5 in debt reduction? Go visit his own web site and see the proof against that statement for yourself. The facts are as follows:

http://secure.assets.bostatic.com/resources/Deficit_Info_v4.png


Here is a breakdown that Obama states how Obama will save $4T

Increased taxes on higher incomes and corporations: $1,910B

Savings from ending wars in Iraq and Afghanistan (assuming we do): $850B

Debt service: $800B

Health(care) and other mandatory initiatives (whatever that is): $590B

Other (made up?): $70B

How is that $2.5 in cuts for every $1 in taxes?

Ending wars isn't a cut. How does debt servicing count as a cut? Either it is taking advantage of lower financing rates by the FED keeping interest rates low, or via the FED printing money to de-value our currency and hence our debts.

Ignoring the war savings, and the printing of money, that is $1.91B in taxes for $590B in Medicaid/Medicare cuts, $3 in taxes for every $1 in cuts. Even if you give Obama credit for the ending of war and the debt reduction, the real math is $1 in taxes for $1 in cuts, in the most favorable of interpretations.

 

[Jeffwhosoever]

Wow. Democrats offer no comeback on this topic. None. Zero.

 

[Thekla]

Guess not

Here's one analysis on both:
"Here's the rap on the presidential candidates' plans for cutting federal deficits: Mitt Romney's is too bold and the numbers don't add up, while President Barack Obama's is too timid and his numbers don't add up, either."
Analysis: Candidates' deficit plans don't add up - Yahoo! Finance

On tax reform, Romney has recently proposed a deductions cap of his own - I can't recall Obama's proposal on this, but Romney has stated from 17,000-50,000.

 

[Vylo]

Well that's 4,090 billion dollars in cuts vs 1,910 billion recouped from closing loopholes. It only works out to 2.14 to 1 at the moment. Seems like he rounded up the math a bit.

 

[Jeffwhosoever]

Well that's 4,090 billion dollars in cuts vs 1,910 billion recouped from closing loopholes. It only works out to 2.14 to 1 at the moment. Seems like he rounded up the math a bit.

Where do you get the $4.09T in cuts? If you were to add these up, you would have $6T in deficit reduction, not the $4T Obama described. And, the $1.91T does not come from closing loopholes.

 

[Vylo]

Where do you get the $4.09T in cuts?

Adding?

 

[Jeffwhosoever]

Adding?

Let's see your addition.

 

[Vylo]

Let's see your addition.

You...are the one that posted the numbers.....

70
590
800
850
1780

= 4090

 

[Jeffwhosoever]

You...are the one that posted the numbers.....

70
590
800
850
1780

= 4090

The $1.78T is NOT new, these were approved almost a year ago, so he should not be claiming this because we still had a $1T deficit in 2012.

 

[Vylo]

The $1.78T is NOT new, these were approved almost a year ago, so he should not be claiming this because we still had a $1T deficit in 2012.

It isn't new, but it is cuts that are part of the plan.

 

[Jeffwhosoever]

Well then Mitt Romney can also claim that $1.7T in deficit reduction in his plan. Something already done doesn't constitute a plan for the future.

Doesn't seem to have worked since we had another $1T in 2012.

 

[Douger]

I looked at that picture you linked and see 2.14 dollars in cuts per dollar in tax.

 

[Vylo]

Well then Mitt Romney can also claim that $1.7T in deficit reduction in his plan. Something already done doesn't constitute a plan for the future.

Doesn't seem to have worked since we had another $1T in 2012.

Except Romney wasn't president so he can't.

 

[Jeffwhosoever]

Except Romney wasn't president so he can't.

Well, we can fix that problem!




Send Obama back to Chicago