I didn’t watch President Obama’s press conference last night (the check for my re-education camp reservation is in the mail) but fortunately a lot of people did.  Some highlights from The Loft:

Next, how about a quick fact check.   As noted in the AP “fact check” story, Obama notes that recovery from the recession “will take time, it will take patience.” Yet, his own budget predicts a relatively quick end to the recession with “solid 3.2 percent growth for 2010, followed by three years of more than 4 percent growth each year.” He uses these numbers to support his budget that adds trillions to the national debt. As I noted yesterday, the Congressional Budget Office predicts even more debt than Obama does… a debt that would cripple this nation.

The AP next focuses on Obama’s statement that in the 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.” In reality, “Not all credible estimates foresee a deficit halved in that time.”

…Obama then goes on to compare his deficit numbers with those of the CBO:

Where the dispute comes in is what happens in a whole bunch of out years. And the main difference between the budget that we presented and the budget that came out of Congressional Budget Office is assumptions about growth.

They’re assuming a growth rate of 2.2. We’re assuming a growth rate of 2.6. Those small differences end up adding up to a lot of money. Our assumptions are perfectly consistent with what blue chip forecasters out there are saying.

The main point I’d like to make here is, “Who cares if Obama’s numbers turn out better than CBO’s!!!” Obama’s numbers still lead to $7 trillion in additional debt.

And on and on.  Doesn’t look like I missed much except a lot of double-talk and that big shiny teleprompter.

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