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#22
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Quote:
http://www.factcheck.org/2009/07/oba...ws-conference/ A $5 Trillion Whopper? The president claimed he has cut federal spending by more than $2 trillion. Obama: I am very worried about federal spending. And the steps that we’ve taken so far have reduced federal spending over the next 10 years by $2.2 trillion. The nonpartisan Congressional Budget Office doesn’t agree that Obama’s budget has “reduced federal spending” at all. Quite the opposite. His budget calls for vastly increased spending, according to CBO. Last month CBO estimated that total federal spending, without the changes Obama proposed in his budget, would be just under $39 trillion over the next 10 years. It also estimated that if Congress adopted the president’s budget, spending would increase to more than $41.7 trillion over the same period. As a percentage of the economy, CBO figured that federal spending would rise from 22.1 percent of gross domestic product (GDP) under current law, to 23.7 percent under Obama’s budget proposals and no, it hasn't passed as yet-but his simply asking for it belies your posts. |