Posted on 07/27/2011 9:17:52 AM PDT by Nobel_1
The CBO has just released its analysis of his so-called "Reid plan", which will only generate $2.2 trillion in savings, half a trillion short of the promised $2.7 trillion. But wait, it gets far, far more idiotic. Per the CBO "The caps on appropriations of new budget authority excluding war-related funding start at $1,045 billion in 2012 and reach $1,228 billion in 2021" - that's right: savings from not fighting future wars - a cool trillion.
But wait there's more: "The legislation also would impose caps of $127 billion for 2012 and $450 billion over the 2013-2021 period on budget authority for operations in Afghanistan and Iraq and for similar activities." But wait, there' even more: "Savings in discretionary spending would amount to nearly $1.8 trillion, mandatory spending would be reduced by $41 billion, and the savings in interest on the public debt because of the lower deficits would come to $375 billion."
Gotta love the circularity: less interest payments are part of the actual deficit cuts! So, here's the math: of the $2.2 trillion in "savings" strip away non-savings from non-authorized "wars" and you get... $750 billion... and take out the $375 billion in, no really, interest savings, and you get... $375 billion. OVER TEN YEARS!
(Excerpt) Read more at zerohedge.com ...
Keep this in the back of your mind — the federal government is spending approximately $10B every day. Now how does $375B over ten years look to you?
I have been saying for years...there is no “non partisan” CBO, just as there are no non partisan pollsters or media outlets.
The National Journal has never been Non Partisan, CSPAN has never been non partisan and neither is the CBO or any other outfit they want to say is non partisan.
All these outfits are about as non partisan as I am !!!
There will be many more ex-pats if this kind of thing continues.
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