Budgetology: Smoke N’ Mirrors

Yesterday the president said his budget didn’t have “a lot of smoke and mirrors” but it seems all it takes is a little digging to uncover the hidden gimmicks. Between accounting for “an explosion of economic growth” or counting savings from cuts that will never pass, the meaningful change amounts to more of an optical illusion. If this isn’t a lot of smoke and mirrors, will the real cuts to spending please stand up?

PRESIDENT’S BUDGET HAS SMO...

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Rhetoric vs. Reality

RHETORIC: President Obama: “No Smart Way” To Cut $85 Billion: “The problem is, when you’re cutting $85 billion in seven months … there’s no smart way to do that. There’s no smart way to do that.” (“Obama on Sequester Cuts: ‘There’s No Smart Way To Do That,’” Real Clear Politics, 2/26/13)

REALITY: Redundant Federal Programs Wasting Billions: “Redundant federal programs are leading to billions in waste, congressional auditors say, and the ...

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NEW VIDEO: “Debt-tective” Finds Culprit Behind National Debt

Arlington, Va. – Bankrupting America, a project of Public Notice, today released an animated web video titled “What is Bankrupting America?” focused on educating and engaging Americans on the national debt, government spending and the drag they cause on our economy. The video follows a “Debt-tective” as he discovers clues and investi...

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Spending Daily | April 5, 2013

U.S. Economy Gained 88,000 Jobs in March, Smallest Gain in 10 Months

MarketWatch reports, “The economy generated just 88,000 jobs in March – the smallest gain in 10 months – and more people dropped out of the labor force, adding to a fresh pile of evidence that the pace of hiring in the United States has slowed. The unemployment rate fell a tick to 7.6% from 7.7%, the lowest rate since December 2007, but the decline stemmed from fewer Americans look...

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Rhetoric vs. Reality

RHETORIC: President Obama: “No Smart Way” To Cut $85 Billion: “The problem is, when you’re cutting $85 billion in seven months … there’s no smart way to do that.  There’s no smart way to do that.” (“Obama On Sequester Cuts: ‘There’s No Smart Way To Do That,’”Real Clear Politics, 2/26/13)

REALITY:  Energy Department Mismanaged $90 Million In Stimulus: “The Energy Department’s (DOE) internal watchdog is attacking DOE management of a $1.5-b...

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