Obama administration brags about deficit cuts, conveniently ignoring reality

Barack Obama winkThe Obama administration has been patting itself on the back in recent days, claiming that its done its job of cutting the national deficit — ignoring the fact that Obama is merely cutting the deficit he ran up during his first years in office.

On Wednesday, during the first speech of his big economic tour, President Obama bragged about the deficit cuts he’s made during his time in office and scorned House Republicans for worrying about excessive government spending.

“If you ask some of these folks, some of these folks mostly in the House, about their economic agenda how it is that they’ll strengthen the middle class, they’ll shift the topic to ‘out-of-control government spending’ — despite the fact that we’ve cut the deficit by nearly half as a share of the economy since I took office,” Obama said to the crowd at Knox College in Galesburg, Ill.

The Congressional Budget Office reported in May that 2013 would see a $642 billion budget deficit, the smallest annual deficit since Obama took office. Cutting the deficit was one of President Obama’s biggest first term promises, and now he wants everyone to know he apparently made good on it.

He drove his point home on Wednesday by criticizing Republicans for not having a “concrete” economic plan and instead taking “meaningless” votes to get rid of the Affordable Care Act.

“Repealing Obamacare and cutting spending is not an economic plan,” Obama said. “It’s not.”

And on the Sunday shows this week, Treasury Secretary Jack Lew also lauded the Obama administration’s deficit reduction strategy, claiming that the nation is in a better place that 2011.

“We have seen several pieces of legislations enacted that have reduced the deficit very substantially,” Lew said. “We are seeing the the most rapid reduction of the deficit since the end of World War II when we demobilized. We’re actually outperforming expectations in terms of how quickly we’re reducing the deficit and we’re controlling healthcare costs because of the Affordable Care Act.”

“We cannot cut our way to prosperity,” Lew added later. “We have already done a lot of deficit reduction.”

But as The Heritage Foundation pointed out following Obama’s big economic speech, the deficit hasn’t really been cut in half. Obama’s ‘claim to fiscal responsibility fame’ ignores the fact that he’s cutting back the historically huge deficit he ran up during his first term.

Plus, the federal debt is projected to grow by 50 percent over the next decade anyway, despite Obama’s so-called ‘cuts.’

So don’t celebrate just yet, Obama. There’s still work to be done.

Comments

Polititainment

Jenner comes out as trans, Republican
Former Olympian and “Keeping Up with the Kardashians” star Bruce Jenner finally revealed that he identifies as a woman in his Friday night “20/20″ interview with Diane Sawyer, but it was a different announcement that had viewers freaking out. Sawyer asked if Jenner cheered when President Obama became the first president to even say the […]
Waka Flocka Flame endorses Hillary

Just days after announcing his own candidacy for president in 2016, Waka Flocka Flame is endorsing Hillary Clinton for the White House. The Atlanta rapper said during a recent interview with MTV News that he will vote for Clinton in the 2016 presidential election.

Obama honors New England Patriots

President Obama honored the Super Bowl Champion football team on the South Lawn, kicking off his remarks with a joke about the team's long since past "Deflate Gate" controversy.

Olivia Wilde endorses Hillary Clinton

Actress Olivia Wilde is "excited" by Hillary Clinton's presidential campaign. The film star, who campaigned for then-Sen. Barack Obama in 2008, expressed her enthusiasm for the "political discussions" that result from election season during a recent interview with The Daily Beast.

Robert Downey Jr. walks out of interview

Robert Downey Jr. cut short a recent interview with British Channel 4 News reporter Krishnan Guru-Murthy when the journalist questioned the actor about a past statement regarding how being imprisoned impacted his political beliefs.

2016

Fiorina: Hillary doesn't deserve the presidency

Likely 2016 candidate Carly Fiorina, the Republican field's only female candidate, wants to be clear that gender should not be the presidency's qualifying factor--and that Hillary can't "play the gender card" with her.

Ted Cruz is killing it on Facebook

Ted Cruz, 2016's King of Facebook?

Cruz wants media to ask Hillary this question

The media has been peppering the 2016 Republican field with questions about whether they would attend gay weddings or accept gay family members.

Clinton Foundation acknowledges missteps

The acting chief of the Bill, Hillary and Chelsea Clinton Foundation acknowledged in a new statement that the global philanthropy launched 15 years by the former president has made missteps.

Rand Paul is terrible at poker

Playboy/poker champion/Instagram star Dan Bilzerian has been hanging out with Rand Paul for some reason,

Policy

Obamacare brings growth in food stamp enrollment
CHICAGO (AP) — President Barack Obama’s health care law has had a surprising side effect: In some states, it appears to be enticing more Americans to apply for food stamps, even as the economy improves. New, streamlined application systems built for the health care overhaul are making it easier for people to enroll in government benefit […]
DC gets mad at Gowdy and Buck over gun photo

Reps Trey Gowdy (R-S.C.) and Ken Buck (R-Colo.) just dodged a run-in with the D.C. authorities.

The danger of policing through Facebook

These days, everything happens on social media--including solving crime.

Police seized 11-yr-old for defending legal pot

One Kansas school apparently found a child's earnest defense of marijuana legalization so threatening they called the police on his mother.

Support for Obamacare hits surprising high
Support for Obamacare has hit a two-year high, despite the tax season surprises that followed the law this year. According to a new Kaiser Health Tracking Poll released Tuesday, the percentage of people who say they support the healthcare law is greater than those who oppose it for the first time since the fall of 2012. […]