Sunday, July 29, 2012

Obama’s budget director predicts $1.2 trillion budget deficit for 2012. What happened to cutting deficit in half?

Via Washington Examiner:
President Obama’s budget director predicted a $1.2 trillion budget deficit for 2012 today, which prompted one senator to call for the president to pull down a Obama campaign ad that promises to “pay down the debt.”
“For 2012, the deficit is now projected to be $1.211 trillion, $116 billion lower than the $1.327 trillion deficit projected in February,” Jeff Zients, director of the Office of Management and Budget, wrote on the White House blog.  “This reflects lower-than-expected spending, partially offset by lower-than-expected receipts.”
His projection comes just days after Obama released a campaign advertisement that proposes “asking the wealthy to pay a little more so that we can pay down our debt in a balanced way.” Zients alluded to the tax increase proposal when he said that “Congress can and must enact a comprehensive and balanced deficit reduction package, along the lines of the President’s Budget” — a budget unanimously rejected by the House and the Senate.
Keep on reading…

President Obama pledged to cut the budget deficit in half by the end of his first term. (at the 1:00 mark)

1 comment:

Anonymous said...

The mistake that any American or American institution makes with regard to ANY obama comment is in assuming that what he says is actually supposed to occur.

Everything he says is simply for effect, no more no less.

Even saying that all of obama's statements or assertions have an expiration date is hopelessly naive, as that would presuppose that he had originally intended a different outcome.