September 19, 2011

Obama Deficit Plan Cuts Entitlements and Raises Taxes on Rich - NYTimes.com

Even without the partisan rancor surrounding this proposal, let's put TeamObama's deficit plan in perspective.

The Obama budget previously submitted to Congress for the ten years 2012-2021 totals $45.95 Trillion in spending which creates additional cumulative deficits of $7.2 Trillion. A $3 Trillion reduction amounts to a 6.5% reduction in total spending. The cumulative budget deficits would shrink to $4.2 Trillion and the national debt would rise to approximately $18+ Trillion.


Too bad the article didn't include this relevant information. But political rhetoric and often the media echo chamber fail to give us the full story in order to shape our views. 

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