Home news

HBC Publications

The Arithmetic of the President’s $4 Trillion Deficit Reduction Claim

f t # e
Washington, Sep 7, 2012 | comments
  • Despite claims that the President has a $4 trillion deficit reduction plan, the President’s own budget shows only a $2 trillion reduction in the deficit over 10 years, while the debt increases by $11 trillion.

  • After removing gimmicks and using CBO data, the President’s budget shows only $577 billion in deficit reduction over 10 years.

  • In contrast of the claim of $2.50 in spending reductions for every $1 in tax increases, the President’s own budget actually shows $20 in tax increases for every $1 dollar in spending cuts.

  • After removing gimmicks, the President’s budget would actually increase spending by 83 cents for every $1 it raises in new taxes.

Read full report HERE.

f t # e