Zients, Obama/Reuters

President Barack Obama announced his budget on Wednesday with the declaration that “there’s not a lot of smoke and mirrors in here” -- but, in fact, Obama, like his predecessors, used several time-worn tricks to balance the books. Among the gimmicks in this year's budget: an utter refusal to acknowledge the "sequester" spending cuts; the inclusion of cuts that Congress is unlikely to approve; and an extremely rosy portrayal of America's economic prospects.

Full Story:

Related Summaries