Obama: Romney Will Cost Feds $5 Trillion
President Obama, speaking at a campaign event in Dubuque, Iowa, said Mitt Romney’s intended tax cuts would cost the government five trillion dollars: “Five trillion dollars is a lot of money, even for Washington.” Where Obama gets his figures, no one knows, but, of course, if you were Barack Obama, you might figure people wouldn’t notice your own financial malfeasance and instead join your substance-free attack on Romney.
Since Obama was unable to offer a litany of his abuses because he was a) too tired, b) too weak, c) too afraid, or d) too ignorant to do so, here is a short primer on Obama’s financial delinquency: $76 million has been spent in support of Obamacare over the past 3-1/2 years, and another $8.35 billion on a “demonstration project” to postpone the vast majority of Obamacare’s Medicare Advantage cuts until after the 2012 election; $535 million went to Solyndra.
But here’s the real kicker; Obama’s 2013 budget proposes to spend $47 trillion over the next 10 years. That is the most spending in the history of the world. By contrast, Paul Ryan’s budget over the same period of time would be spending nearly a trillion dollars less per year than President Obama’s budget.