View Full Version : AP: OBAMA LIED!

09-09-2011, 08:55 AM
<u><span style='font-size: 14pt'>OBAMA:</span></u> <span style='font-size: 11pt'>"Everything in this bill will be paid for. Everything."</span>

<u><span style='font-size: 14pt'>THE FACTS:</span></u> [b]Obama did not spell out exactly how he would pay for the measures contained in his nearly $450 billion American Jobs Act but said he would send his proposed specifics in a week to the new congressional supercommittee charged with finding budget savings. White House aides suggested that new deficit spending in the near term to try to promote job creation would be paid for in the future - the "out years," in legislative jargon - but they did not specify what would be cut or what revenues they would use.

Essentially, the jobs plan is an IOU from a president and lawmakers who may not even be in office down the road when the bills come due. Today's Congress cannot bind a later one for future spending. A future Congress could simply reverse it.

Currently, roughly all federal taxes and other revenues are consumed in spending on various federal benefit programs, including Social Security, Medicare, Medicaid, veterans' benefits, food stamps, farm subsidies and other social-assistance programs and payments on the national debt. Pretty much everything else is done on credit with borrowed money.

So there is no guarantee that programs that clearly will increase annual deficits in the near term will be paid for in the long term.

OBAMA LIED! (http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS_FACT_CHECK?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-09-09-04-41-51)