Bill Clinton (and Barack Obama) are lying to you.
From the Washington Post's "fact checker":
Fact checking Bill Clinton’s speech and other Democrats at the convention in CharlotteThey're lying.
By Glenn Kessler
“He [Obama] has offered a reasonable plan of $4 trillion in debt reduction over a decade. For every $2.5 trillion in spending cuts, he raises a dollar in new revenues, 2.5 to 1. And he has tight controls on future spending. That’s the kind of balanced approach proposed by the Simpson-Bowles commission, a bipartisan commission. … It passes the arithmetic test.”
— Former president Bill Clinton
The repeated claim that Obama’s budget reduces the deficit by $4 trillion is simply not accurate.
By the administration’s math, you have nearly $3.8 trillion in spending cuts, compared to $1.5 trillion in tax increases (letting the Bush tax cuts expire for high-income Americans). Presto, $1 of tax increases for every $2.50 of spending cuts.
But virtually no serious budget analyst agreed with this accounting. The $4 trillion figure, for instance, includes counting some $1 trillion in cuts reached a year ago in budget negotiations with Congress. So no matter who is the president, the savings are already in the bank.
Moreover, the administration is also counting $848 billion in phantom savings from winding down the wars in Iraq and Afghanistan, even though the administration had long made clear those wars would end.
In other words, by projecting war spending far in the future, the administration is able to claim credit for saving money it never intended to spend. (Imagine taking credit for saving money on buying a new car every year, even though you intended to keep your car for 10 years.) Rather than good arithmetic, independent budget analysts called the maneuver “a major budget gimmick.” The administration also counts $800 billion in savings in debt payments (from lower deficits) as a “spending cut,” which is a dubious claim. We didn’t realize that debt payments were now considered a government program. There are a number of other games being played, so fake money is being used to pay for real spending projects. In effect, most of Obama’s claimed deficit reduction comes from his proposed tax increases. [link]
Bill Clinton says Barack Obama should be reelected.
He also said he didn't have sex with that woman.
So that's enough of that.