Politics
President Barack Obama gesturing at a business roundtable meeting. Kevin Dietsch/Getty Images. President Barack Obama gesturing at a business roundtable meeting. Kevin Dietsch/Getty Images.  

Sessions: Obama’s cliff plan is a debt weight

Neil Munro
White House Correspondent

Instead of cutting spending or lowering debt, the plan would increase spending over the decade, even as the tax-increase also trims the expected extra debt of $9 trillion by roughly 5 percent, or $400 billion, Sessions said.

“Our spending is growing … [and] the president’s proposal is to have it grow even faster than the budget currently calls for,” he said.

White House talking points also obscure the scale of budget spending.

In 2000, the federal budget was $2.39 trillion, when counted in 2012 dollars, according to data from Session’s committee.

In 2008, the federal government spent $3 trillion in 2012 dollars.

By 2012, Obama had pushed it up to $3.8 trillion in 2012 dollars.

Spending should reach $4.77 trillion in 2022, according to the budget proposal submitted by Obama in early 2012.

That plan predicts that the federal government will spend a cumulative total of $46 trillion during the decade from 2012.

That 10-year spending of $46 trillion includes roughly $9 trillion in borrowed funds.

That borrowed $9 trillion will boost the national debt from $16.3 trillion to $25 trillion.

In his first term, Obama helped add $5.7 trillion in debt to the nation’s taxpayers, or $19,000 per person. That’s an extra debt of $100,000 for the household of five people Obama showcased Dec. 6 as he pushed his fiscal-cliff plan.

“I want to, first of all, just thank Tiffany and Richard … for opening up their beautiful home to us,” Obama told reporters gathered at the press event in Falls Church, Va. The couple live with their child and Tiffany’s two working parents.

“Tiffany pointed out … that an increase of $2,000 or so for her and her husband in this household would actually mean $4,000 … a couple of thousand dollars means a couple months’ rent for this family,” Obama said.

Obama did not mention the family’s share of the national debt.

Nor did he mention that Obama’s planned extra debt of $9 trillion by 2022 would add $28,000 of debt per person, and boost the household’s share of the national debt to almost $250,000.

That level of debt will tax the family’s ability to launch their single child into an increasingly competitive world, and threaten health-care spending for the grandparents.

For Sessions, the president’s budget plan is just a stealth spending plan.

“The proposal that is put out there is a huge tax increase… and the money is being gobbled up with new spending,” he said.

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