|WRITTEN BY THOMAS R. EDDLEM|
|TUESDAY, 02 AUGUST 2011 00:00|
President Obama announced his debt deal with House Speaker John Boehner with a dramatic quote about the intensity of the cuts in the deal:
“The result would be the lowest level of annual domestic spending since Dwight Eisenhower was President — but at a level that still allows us to make job-creating investments in things like education and research.”
The problem is that his statement was an outright lie.
Though Obama’s statement sounded good, but a White House memo on the deal reveals his words to be false. It reads that the deal
“… reduces Domestic Discretionary Spending to the Lowest Level Since Eisenhower: These discretionary caps will put us on track to reduce non-defense discretionary spending to its lowest level since Dwight Eisenhower was President.”
That sounds similar, but non-defense discretionary spending is only one-eighth of total spending. Total federal spending is the highest it’s been since World War II, both in real dollar terms and in terms of . . .
Watch the video…