Issa: Obama's budget 'rife with assumptions that defy logic'

House Oversight and Government Reform Committee ranking member Darrell Issa (R-Calif.) slammed on Tuesday President Obama's mid-year budget review for making "assumptions that defy logic as much as his spending defies gravity."

The administration announced today that it increased the projected budget deficit to $9 trillion over the next decade from $7.1 trillion and estimated unemployment would pass 10 percent.

The fifth-term Republican implied that the estimate could be even worse, accusing the White House of using faulty assumptions to draft its estimate.

"Adding insult to gimmickry, President Obama's budget continues to assume that Congressional Democrats will allow 'stimulus' pet projects to expire, that a government take-over of health care will be budget neutral and that the economy will return to a roaring 3.2 percent growth next year," Issa said in a release.

He also hit at the administration's economic policies, saying that the Obama administration "vastly underestimated every aspect of our financial crisis: from unemployment to deficits, from mythical 'jobs saved or created' to projected economic growth."

Cross-posted to the Twitter Room

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