President's made this remark yesterday:
"The Congressional Budget Office now reports that this bill will reduce our deficit by $132 billion over the first decade, and by as much as $1.3 trillion in the decade after that. So I just want to be clear, for all those who are continually carping about how this is somehow a big spending government bill, this cuts our deficit by $132 billion the first 10 years, and by over a trillion in the second. That argument that opponents are making against this bill does not hold water."
There are actually multiple lies and deceptions in this paragraph, beginning with the verb "reports" to describe what the Congressional Budget Office does. The CBO, as Peter Suderman documented in hisfoundational Reason feature on the organization, does not "report," it "projects," in highly speculative fashion, what a proposed piece of legislation may cost. What's more, as Suderman detailed in a more recent piece that every American should read before listening to a word the president says, the CBO is bound in its "scoring" to take at face value what every living politician–Obama included–knows to be a stinking lie. That is, Congress' promises to make hundreds of billions of dollars worth of unspecified future spending "cuts." From the article:
Continue to read here.