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Give Or Take A Trillion

- March 3, 2011

Obama Feigns Commitment To “Living Within Our Means” While He Continues To Duck Leadership On Reining In Deficit

OBAMA’S RHETORIC OF GOVERNMENT NEEDING TO “LIVE WITHIN OUR MEANS” DOESN’T MATCH HIS ACTIONS

President Obama: “We’ve Got A Real Issue With Debts And Deficit, And So We’ve Got To Live Within Our Means.” (President Obama, “Remarks By The President On The National Wireless Initiative In Marquette, Michigan,” 2/10/11)

Obama “Confident That We Can Break Our Bad Habits” And Start Living Within Our Means Again. Obama: “None of this will be easy.  Big change never is.  But with the leadership of these individuals, I am confident that we can break our bad habits, put an end to the mismanagement that has plagued our government, and start living within our means again.   That is how we will get our deficits under control and move from recovery to prosperity.  And that is how we will give the American people the kind of government they expect and deserve – one that is efficient, accountable and fully worthy of their trust.” (President Obama, Weekly Address, Washington, D.C., 4/18/09)

Obama: “Families Across This Country Understand What It Takes To Manage A Budget.” (President Obama, Weekly Address, Washington, D.C., 2/12/11)

Obama: “Just Like Every Family In America, The Federal Government Has To Do Two Things At Once.  It Has To Live Within Its Means While Still Investing In The Future.” (President Obama, “Press Conference By The President,” The White House, 2/15/11)

OMB Director Jack Lew: “Today, the President sent to Congress his budget  for the 2012 fiscal year. This document is built around the simple idea that we have to live within our means so we can invest in the future.” (Jack Lew, “The 2012 Budget,” Whitehouse.gov Blog, 2/14/11)

White House Press Secretary Jay Carney: “[I] Think We All Take Seriously -- Republicans And Democrats -- The Need To Tighten Our Belts And Live Within Our Means.” (Jay Carney, “Press Briefing by Press Secretary Jay Carney,” White House Press Briefing Room, 2/16/2011)

Council of Economic Advisers Chairman Austan Goolsbee: “We’ve Got To Live Within Our Means. The President’s Budget Does That. It Cuts The Deficit More Than Any President Has Ever Cut It Before.” (Comedy Central’s “The Daily Show,” 2/24/11)

THE NATIONAL DEBT AND DEFICIT CONTINUE TO CLIMB TO HISTORIC HIGHS UNDER OBAMA’S WATCH

“Economists List U.S. Budget Deficit As No. 1 Worry.” (Rachelle Younglai, “Economists List U.S. Budget Deficit As No. 1 Worry,” Reuters, 2/28/11)

  • Economists Surveyed Agree That The U.S. Budget Deficit Is The “Gravest Threat Facing The Economy.” “The massive U.S. budget deficit is the gravest threat facing the economy, topping high unemployment and the risk of inflation or deflation, according to a survey of forecasters released on Monday.” (Rachelle Younglai, “Economists List U.S. Budget Deficit As No. 1 Worry,” Reuters, 2/28/11)

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)

The Deficit This Year Is Slated To Reach A Historically High $1.65 Trillion. (Fiscal Year 2012 Budget Of The U.S. Government" Office Of Management And Budget, 2/14/11)

For “The First Time Since World War II” Our Nation’s Debt Will “Surpass The Size Of The Total U.S. Economy” This Year. “President Obama’s budget, released Monday, was conceived as a blueprint for future spending, but it also paints the bleakest picture yet of the current fiscal year, which is on track for a record federal deficit and will see the government’s overall debt surpass the size of the total U.S. economy. And the administration says it will reach $15.476 trillion by Sept. 30, the end of the fiscal year, to reach 102.6 percent of gross domestic product (GDP) — the first time since World War II that dubious figure has been reached.”  (Stephen Dinan, “Debt Now Equals Total U.S. Economy,” The Washington Times, 2/14/11)


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