CBO Confirms Obama Budget Shirks Responsibility
Last Friday, CBO released its estimate of the President’s budget, which showed $1.1 trillion in reduced borrowing. That is significantly less deficit reduction than the President’s claim of $1.8 trillion when he released his budget just last month. CBO also shows almost all of the deficit reduction is through higher taxes. The President’s budget would raise nearly $1 trillion in taxes to pay for canceling the nearly $1 trillion sequester. This is nothing new from President Obama. His budgets have always supported higher taxes -- not to reduce the debt, but to finance his vision of a liberal government that has a simple answer for every problem: more spending.