Transcript of President Obama's Remarks on Deficit at George Washington University April 13

When you read Obama's speech below note how spending has soared under his administration.


Inaccurate claim: "We increased spending dramatically for two wars and an expensive prescription drug program – but we didn’t pay for any of this new spending. Instead, we made the problem worse with trillions of dollars in unpaid-for tax cuts"

Note that the last year that the Republicans controlled the Congress and the presidency for the 2007 budget that started in October 2006 the deficit was less than $170 billion.

Misleading: "A 70% cut to clean energy. A 25% cut in education. A 30% cut in transportation."

Note: These are cuts after huge increases. The "cuts" return these spending levels back to 2008 levels. These spending increases were parts of his "temporary" stimulus.

Inaccurate claim: "When I took office, our projected deficit was more than $1 trillion."

Where does one start with these false claims?

The Wall Street Journal has a transcript here.