Politicians are a legend in their own minds, many call them liars. Furthermore, they believe that we the people can not think for ourselves, and we don't know what's best for us. They think that they need to think for us, and make decisions of our behalf. Scary stuff
I can't say whether he himself(BO)is stupid, or hoping that folks just don't understand math, or just won't do the math. My gut feeling is that he is more deceitful than he is stupid.