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January 10, 2013

Obama's Treasury Pick Lew Can't Count Either (Video)

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Barack Obama's pick for Treasury Secretary Jack Lew is as bad at math as Obama is ... Lew falsely claimed in 2011 that the Obama plan would not add to the US debt (hat tip - Jim Hoft):

Lew was, of course, dead wrong. Obama has added over a trillion dollars a year to the national debt since he's been in office. In fact, he's added nearly $6 trillion to the national debt in just four years.

FOX News reports:

The top Republican lawmaker on the Senate Budget Committee fired a warning shot Thursday as President Obama prepared to tap Chief of Staff Jack Lew for Treasury secretary, vowing to oppose the nomination over a "false" statement Lew made about the national debt.

"Jack Lew must never be secretary of Treasury," Sen. Jeff Sessions, R-Ala., said, calling Lew's comments nearly two years ago "so outrageous and false" as to disqualify him.

Sessions was referring to a bitter Senate hearing from February 2011, when Lew attempted to defend statements he and Obama had made claiming their budget blueprint would get the country to a point where "we're not adding to the debt anymore."

Those statements, at best, stretched the truth. The White House budget plan at the time showed the public debt (which isn't the entire debt) soaring from $11 trillion that year to nearly $19 trillion by 2021, driven by year-after-year deficits.

Yet Lew, appearing at a Senate hearing, tried to justify the claim that the government was not adding to the debt. He said the administration was merely referring to "primary balance" -- or federal spending that does not count interest payments.

He repeated the claim before the Senate. "Our spending will not add to the debt," Lew said. "It's an accurate statement."

Related:
Jack Lew: Architect of Fake Spending Cuts, Defender of Entitlements
Sen. Hatch Wants Lew's Plan on Deficit Reduction

Posted by Hyscience at January 10, 2013 11:14 AM



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