Obama Says Fiscal Cliff Deal Will Reduce Deficit …(Deal Adds $4 Trillion to Deficit)

It took President Obama less than 24 hours to release a campaign video bragging about the “fiscal cliff” agreement and explaining what’s in the bill and what it means for you.

He likely made the video before the bill passed and he jetted off to Hawaii.

In the video Obama says:

“Thanks to so many of you because you made your voices heard throughout this debate, we’ve stopped that middle class tax hike. But we didn’t stop there.”

Not true.
Middle class Americans saw their taxes increase by $1,000 a year for those making $50,000 a year and $2,000 a year for those making $100,000 a year. So middle class Americans got the shaft just like wealthy Americans did.

President Obama also had this to say about the deficit:

“Last year we started reducing the deficit though one trillion dollars in spending cuts. In the agreement we reached this week we reduce the deficit even more by asking the wealthiest two percent to pay higher taxes for the first time in two decades.”

Not true.
The fact is that federal spending was not cut by $1 trillion in 2011. Spending increased by $147 billion last year under Barack Obama. And the CBO reported this week that the fiscal agreement that passed the House and Senate will add $4 trillion to the deficit.

Sadly, these mistruths will be overlooked by the liberal media just like all of his other dishonest statements over the years.
But the media is dead.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

You can email Jim Hoft here, and read more of Jim Hoft's articles here.


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