Research Briefing

Obama’s New Press Flack Continues To Push President’s Absurd Claim About No New Debt

ABC News’ Jake Tapper: “The President Seems To Think That - That Borrowing Money To Pay The Interest On The Debt Is Not Adding To The Debt.  I Don't Understand That Math.” (Jake Tapper, “Borrowing To Pay Interest On A Debt Isn’t Creating Debt?: Today’s Q’s For O’s WH – 2/16/2011,” ABC’s “Political Punch” Blog, 2/16/11)

WHITE HOUSE DOUBLES DOWN ON INACCURATE BUDGET CLAIM

Despite Factual Inaccuracies, White House Continues To Push Claim That Obama’s Budget Does Not Add To The Debt. ABC’s JAKE TAPPER:  “Just to button this, you think that, "We will not be adding more to the national debt," is a statement that stands to scrutiny?” WHITE HOUSE PRESS SECRETARY JAY CARNEY:  “Absolutely, absolutely.” (Jake Tapper, “Borrowing To Pay Interest On A Debt Isn’t Creating Debt?: Today’s Q’s For O’s WH – 2/16/2011,” ABC’s “Political Punch” Blog, 2/16/11)

• Tapper: “If I Borrow Money From You To Pay Off The Interest For The Debt I Owe To Geoff, Am I Not Adding To My Debt?” (Jake Tapper, “Borrowing to Pay Interest on a Debt Isn’t Creating Debt?: Today’s Q’s for O’s WH – 2/16/2011,” ABC’s “Political Punch” Blog, 2/16/11)

OBAMA WHITE HOUSE CLAIMS JUST DON’T CHECK OUT AGAINST THE FACTS

“President Barack Obama's Claim Tuesday That His Proposed Budget Would Stop Adding To The National Debt Is Wrong — And Is Proved Wrong In His Own Budget.” (Steven Thomma, “Obama Says He'd Stop Adding To Debt, But That's Not True,” McClatchy Newspapers, 2/15/11)

• Robert Bixby, Director Of The Non-Partisan Concord Coalition, On Obama’s Claim: “It’s Not True.” “What's that mean about Obama's statement Tuesday? ‘It's not true,’ said Robert Bixby, the director of the Concord Coalition, a nonpartisan budget watchdog group.” (Steven Thomma, “Obama Says He'd Stop Adding To Debt, But That's Not True,” McClatchy Newspapers, 2/15/11)
• Obama’s Budget Shows National Debt Would Grow “Every Year” And Almost Double By FY 2021. “However, his budget shows that the gross national debt would continue to rise every year under his proposal, almost doubling from $13.5 trillion last year to $26.3 trillion in fiscal 2021.” (Steven Thomma, “Obama Says He'd Stop Adding To Debt, But That's Not True,” McClatchy Newspapers, 2/15/11)

PolitiFact Rated Obama’s Claim That His Budget Would Not Add To The Debt As FALSE.  POLITIFACT: “We think the president’s statement is likely to mislead a lot of Americans about what his budget would do. So we rate Obama’s statement False.” (“Barack Obama Says White House Budget Would Not Add To The Debt Within A Few Years,” St. Petersburg Times’ “PolitiFact,” 2/15/11)

HERE ARE THE FACTS FROM OBAMA’S OWN BUDGET

In 2021, Gross Debt Will Total $26.3 Trillion, Equaling 107 Percent Of GDP.   (Fiscal Year 2012 Budget Of The U.S. Government" Office Of Management And Budget, 2/14/11)

The Ten Year Deficits Will Total $7.2 Trillion. (Fiscal Year 2012 Budget Of The U.S. Government" Office Of Management And Budget, 2/14/11)

Obama’s Budget Adds $13 Trillion In New Debt. (Fiscal Year 2012 Budget Of The U.S. Government" Office Of Management And Budget, 2/14/11)

Over The Next Ten Years, The Total Interest Payments On Our Debt Will Total $5.7 Trillion.  (Fiscal Year 2012 Budget Of The U.S. Government" Office Of Management And Budget, 2/14/11)