Obama's Accounting Gimmicks

Posted on September 28, 2012 by

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Obama is going to save us all by reducing the deficit by $4 trillion! Sure. And maybe after he leaves office he can try to get a job for the defunct Arthur Andersen account firm that was supposed to be a watchdog for the financial sector.

Take a listen: I Spy Minute for Fri Sept 28 2012

Or read the transcript below…

@iSpyRadioshow #iSpyMin

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A new Obama ad touts his plan to reduce the deficit by $4 trillion over the next decade.

Except even the left-leaning Washington Post called his claim “simply not accurate.”

Ironically, to arrive at his figures, he has to use some of the same accounting gimmicks that led to the financial crisis. Like double counting 1 trillion of spending cuts signed into law in previous years.

Or supposed “savings” by draw downs in Iraq—money that wasn’t going to be spent anyway.

That’s like me proudly claiming, I saved a quarter million by not buying a Ferrari this year.

Aside from accounting gimmicks that border on outright lies, what will four more years of Obama bring?

This week on the I Spy Radio Show, we continue our look at that, focusing on natural resources. Farmers and ranchers have quietly been under assault by the Obama administration. This is a national dilemma.

Water rights, grazing rights… forget big corporations—find out what it’s really like to be a rancher now—and four years from now if this continues.

That’s tomorrow, 11-noon. Tune in and get a little more intelligence on big government.

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