Listen, it's probably a good thing that he included chained CPI adjustment in here, but you got to look at the numbers on that. That's about $130 billion over 10 years in reduced spending. But He's increasing taxes by over a trillion. By the way, the deficit in Social Security over the next 10 years will be about 1.3 trillion. So the chain CPI would take care about 10% of that. (01:12–01:15)
CLAIM
Asserts that President Obama's budget proposal includes over a trillion dollars in tax increases.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
