Broken Fiscal Promises

Remember Barack Obama’s New Era of Responsibility? It got off to an inauspicious start, with a $787 billion economic stimulus package, a $410 billion appropriations bill, and a record $1.8 trillion budget deficit. But now the president wants to signal that he’s serious about cutting the federal budget. Unfortunately, writes Senior Editor Jacob Sullum, Obama's plan hinges on the assumption that Americans do not know how to calculate percentages.

Read all about it here.

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