The Whopper to End All Whoppers is President Obama’s claim that his tax plan will pay down the country’s staggering $16 trillion national debt.
Not merely balance the budget. The Democrat who has piled up $5 trillion in new debt in less than four years and can’t get a single lawmaker of his own party to vote for his budget blueprint says he’ll pay down the debt, something that requires a budget surplus.
The Congressional Budget Office estimates the budget deficit for the fiscal year ending Sept. 30 will be $1.1 trillion.
“I will use the money we’re no longer spending on war to pay down our debt and put more people back to work,” Obama said during his nomination acceptance speech at this month’s Democratic National Convention.
“I believe the only way to create an economy built to last is to strengthen the middle class, asking the wealthy to pay a little more so we can pay down our debt in a balanced way,” the president says in one of his most widely aired campaign TV ads, titled “The Choice.” The spot includes text for added emphasis. “The President’s Plan: Pay Down Our Debt.”
Where in the world are the “Pants on Fire” and “Four Pinocchios” ratings?
More.
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