The Congressional Budget Office (CBO) says President Barack Obama is underestimating deficits and overestimating revenue projections in the budget released by the White House on Friday and that the budget, if passed by Congress, would increase the deficit by more than $2 trillion over the next decade.
Obama claimed his budget would produce deficits of $7.2 trillion while the CBO assessment estimates the shortfall would be more like $9.5 trillion.
The report suggests the administration is using political “fuzzy math” to mask the true cost of his budget.
- CBO: Obama Understates Deficits by $2.3 Trillion – ABC News (news.google.com)
- Obama’s budget would widen deficits — CBO (reuters.com)