What the CBO REALLY says
Not yours or Tom's line of bullshit. Here's the facts:
President Obama takes a lot of heat from Republicans for supposedly being a big spender. But when it comes to future deficits, the president's problem isn't spending. It's the tax cuts.
The president's budget request for next year would add $9.5 trillion to deficits over the next decade, which is $2.7 trillion more than would otherwise be the case, according to a preliminary analysis released Friday from the independent Congressional Budget Office.
The main reason? Obama's budget would reduce revenue by a net $2.3 trillion over the next 10 years.
As a result, the amount of interest owed on the national debt would go up by another $519 billion. __And that interest is the reason spending as a whole would rise under the president's budget.
"Outlays would be greater ... in each of the next 10 years, primarily because the proposed reduction in revenues would boost deficits and thus the costs of paying interest on the additional debt that would accumulate," CBO wrote.__
