It's now or never for
Republicans to show grit...
No more pussy footing around, cut spending now not in 10
years...In ten years America will be under water without a swim coach.
“Why is it that compromise always means increasing taxes today and doing cuts ten years from now?”
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| WASHINGTON UNDER WATER..OWES MORE THAN IT CAN PAY |
“Why is it that compromise always means increasing taxes today and doing cuts ten years from now?”
Posted:
28 Jul 2011 08:40 AM PDT
By Chris
Edwards
House Speaker John Boehner
has revised his budget plan in response to an unfavorable analysis by the CBO. The CBO has examined Boehner’s new plan and finds that
it would cut spending by $917 billion over 10 years. Of the total, only $761
billion would be cuts to programs. The rest of the savings would be from
reduced interest costs.
Actually, the revised
Boehner plan doesn’t cut spending at all. The chart shows the discretionary
spending caps in the new Boehner plan. Spending increases every year—from
$1.043 trillion in 2012 to $1,234 trillion in 2021. (These figures exclude the
costs of wars in Iraq and Afghanistan).
The “cuts” in the Boehner
plan are only cuts from the CBO baseline, which is an assumed path of
constantly rising spending. If Congress wanted to, it could require CBO to
increase its “baseline” spending by, say, $5 trillion over the next decade.
Then Boehner could claim that he was “cutting” spending by $5.9 trillion, even
though his plan hadn’t changed. You can see that discretionary “cuts” against
baselines don’t mean anything.
The way to make real
spending cuts is to abolish programs and agencies. But it’s been eight months since
a landslide election that focused on the issue of spending cuts, and the
Republican leadership hasn’t proposed any major terminations.
Senator Tom Coburn told us
exactly where he wants to cut spending in this 620-page report. Senator Rand Paul has detailed $500 billion in specific
cuts. Where are the spending cut plans of the other fiscal conservatives in
Congress?
Members need to step up to
the plate and tell us where they would cut the budget. (For help, they can look
here).
The reality of ongoing $1 trillion deficits is that Congress has to start
abolishing programs, privatizing activities, and making other lasting reforms.
Promising to reduce spending growth a bit from projected baseline increases
won’t do the job.www.catoinstitute.com

