FACT CHECK: Obama and his imbalanced ledger - Bloomberg Too long to quote, read it all here. But it's just what you expect. More of the same liberal "how can we fool 'em today?" Obama promises spending cuts, but he means to do nothing of the kind. Same kind of bait and switch liberals are always guilty of. Examples: In other words Obama is lying to us again. No surprise here. Expect liberals to start spinning like hell to claim a lie is not a lie.