The AP Fact Checks Obama

Conn Carroll / March 25, 2009

The AP’s Calvin Woodward has an item out today challenging some of the assertions President Barack Obama made in his press conference last night:

OBAMA: “In this budget, we have made the tough choices necessary to cut our deficit in half by the end of my first term even under the most pessimistic estimates.”

THE FACTS: Not all credible estimates foresee a deficit halved in that time.

Obama’s budget forecast a deficit of $530 billion by the end of 2013. That would cut by half the deficit he inherited at the start of his term. To succeed, Obama is counting on a recovered economy, a tax boost for the rich and success in easing foreign entanglements. But his assertion that he can accomplish that “even under the most pessimistic estimates” flies in the face of an answer he gave moments later.

The Congressional Budget Office forecasts that Obama’s spending plan would leave a deficit of $672 billion by the end of 2013. Explaining the differences between his projections and CBO’s, Obama said his administration projects a higher growth rate. (more…)