Republican House Speaker John Boehner is not about to let President Obama get away with any accounting sleight-of-hand to fool the American people into thinking the Democrats are offering significant spending cuts in their fiscal cliff proposal. The Speaker’s spokesman slammed the President for exaggerating his proposed spending cuts by including the lower interest payments on the national debt that would result. While the President claims his spending cuts add up to $1.2 trillion — roughly equal to the $1.2 trillion he seeks in added tax revenue — Boehner insists the cuts only add up to $930 billion because the interest savings don’t count:
Interest savings from higher taxes is not a spending cut. I wish the folks at the White House would work as hard to actually cut spending as they do trying [to] look like they are.
Got it? Interest totally doesn’t count. Well, unless it’s advantageous to have the interest count. Then interest does count. We know, it’s a little confusing. It’s all dependent on some very complicated advanced Calculus differential equation theoretical physics that you wouldn’t be able to understand, but believe us, both parties are being totally logical here and not hypocritical at all.
For instance, back in June of 2009, Obama chose not to count the interest in calculating the price tag for the economic stimulus package, and Boehner took to the House floor to blast the President for failing to add it into the calculations, which would have added to Obama’s estimate of only $800 billion in spending increases:
If you think about where we’ve been this year, we had the nearly trillion-dollar stimulus plan, when you look at the interest that’s going to be paid on it.
And hey girl, Paul Ryan Gosling wasn’t about to let the Democrats get away with not counting the interest either back in 2009:
We are about to vote on a trillion-dollar spending package. Yes, a trillion dollars, because the Congressional Budget Office just told us today (that) just to pay for the interest on this bill is another $350 billion.
See? Makes total sense. You’re just not good enough in math to understand it.
*Please support The Daily Dolt by doing all your holiday shopping via this super helpful link we are providing right here. Happy Christmakwanzakkah!!!!