President Obama’s math leaves us broke

July 13, 2010 08:01

“I will not sign a plan that adds one dime to our deficits, either now or in the future,” Barack Obama swore to us during the health care debate. Some 2.5 trillion dimes later, it’s clear the president had no idea what he was talking about.

By Michael Graham at

The latest numbers from the Congressional Budget Office project that Obamacare will drive up deficits by $250 billion in the first 10 years. Then again, the CBO also predicted that the original Medicare program would only cost $12 billion by 1990. Its actual price tag was $110 billion.

Missed it by that much.

Republican or Democrat, liberal or conservative, it doesn’t seem to matter. People in politics are almost always lousy at math.

You know about Obama’s $787 billion stimulus plan? The one the White House promised would keep unemployment below 8 percent? Today’s rate is 9.5 percent – and that number is artificially low because people who’ve simply given up hope and stopped looking for work aren’t counted.

The New York Times [NYT] reported last week that “real” unemployment for 18 to 29-year-olds is 37 percent – “a rate reminiscent of the 1930s.”


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