Wednesday, March 25, 2009

President Obama stretching the facts?

You know that President Obama had a pretty bad press conference when the very next morning, even the fawning media is questioning whether or not the President stretched the facts.

Fact Check by the AP:

THE CLAIM: "We will recover from this recession. But it will take time, it will take patience, and it will take an understanding that when we all work together, when each of us looks beyond our own short-term interests to the wider set of obligations we have to each other, that's when we succeed."

No one really knows when the recession will end. But Obama's own budget
forecasts the recession will continue through this year but with a relatively
shallow 1.2 percent decline in the gross domestic product.

Then, the budget predicts solid 3.2 percent growth for 2010, followed by three years of more than 4 percent growth each year.

Christina Romer, head of the White House Council of Economic Advisers, said this week she was "incredibly confident" the U.S. economy will recover within a year.
Congressional Republicans and some Democratic budget hawks have suggested the Obama budget projections are unduly optimistic to make the math to pay for the president's programs work. The higher the GDP growth, the more tax revenues come in.

Meanwhile, the nonpartisan Congressional Budget Office last week predicted that the Obama budget would produce deficits averaging nearly $1 trillion over the next decade.

That is not all, follow the link.

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