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Whats Really in the Presidents Budget

Created on April 12, 2013

Whats Really in the Presidents Budget

President Obama claims $1.8 trillion in additional deficit reduction, including a $600 billion tax increase. But his budget actually increases taxes by $1.1 trillion and has zero additional spending reductions.

Obama’s spending reductions

Spending increase from cancelling Sequester

Additional tax increase in Obama’s budget

Obama’s claimed tax hikes

TAX INCREASES

SPENDING REDUCTIONS

Sources: White House Office of Management and Budget, FY 2014 President’s Budget, Table S–2, “Effect of Budget Proposals on Projected Deficits,” and U.S. Treasury Department, “General Explanations of the Administration’s Fiscal Year 2014 Revenue Proposals,” April 2013.

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