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A Primer for Understanding Obama's Budget

April 9, 2013 in Economics

President Obama will release his overdue budget on Wednesday. It will doubtless project a reduction in the federal budget deficit—a projection that journalists, commentators and policy makers should ignore says Cato scholar William Poole. “U.S. fiscal policy is in a chaotic state,” argues Poole. “Policy decisions are wrapped around the convoluted budget accounting that Congress and the White House use to obfuscate, dissemble and hide what is really being done. That is a tragedy, and our democracy is worse for it.”

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