Obama’s “Plan” Adds $8.6 Trillion to the Debt

image001_0_preview

“President Obama’s ‘Plan’ Adds $8.6 Trillion to the Debt,” the minority side of the Senate Budget Committee contends. Here’s a chart put together by the Republicans on the committee to explain how Obama’s plan adds to the debt:

The $400 billion in deficit reduction would be achieved by a $1.6 trillion tax hike, which Obama has proposed as part of the “fiscal cliff” deal.

With Obama’s latest plan, debt in 2022 is expected to be $25.4 trillion; otherwise, in ten years, it is expected to be $25.8 trillion.

“With the adoption of the Budget Control Act (which immediately raised the debt ceiling $2.1 trillion in exchange for $2.1 trillion in spending cuts over 10 years), the United States is presently on course to add $9 trillion to the gross federal debt by 2022,” write the Republicans on the Senate Budget Committee.

GET MORE STORIES LIKE THIS

IN YOUR INBOX!

Sign up for our daily email and get the stories everyone is talking about.

Email

Previous post

Is Santa a Democrat?

Next post

Proposed Army manual tells G.I.s not to insult Taliban, speak up for women

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.