A Phantom Budget—and a Phantom $4 Trillion

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8:55 AM, May 5, 2011 • By JEFFREY H. ANDERSON

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Until President Obama actually submits a second budget and lets the nonpartisan CBO score it, no one should take his $4 trillion figure seriously. So far, Obama has submitted one (and only one) budget for the 10-year period from 2012 to 2021, and — according to the CBO — it calls for 86 percent more deficit spending than the House Republican plan. The only thing that Obama has offered since then is a phantom budget, with a phantom $4 trillion in deficit savings.

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