Beck’s story is just going to be some new initiative, i.e. people saying they are starting a new third party, or some such thing. They are “brave” for starting the party or group that will challenge Boehner, et al (thus the reference to Boehner).
White House chief of staff Dennis McDonough, congressional liaison Rob Nabors, and other Obama officials came into the initial meetings on the Hill reiterating the president’s position that $4 trillion in deficit reduction would basically solve the problem for now.
But according to GOP deficit projections subsequently prepared by Johnson and obtained by National Review Online, the true size of the problem is staggering, and surprised even many of the seasoned budget negotiators involved.
$4 trillion? Try $106 trillion, the medium estimate. That’s $106,954,000,000,000. Even the lowest, extremely conservative estimate comes in at $72 trillion; the highest is over $120 trillion.
The amounts are so large that some controversial reforms appear inconsequential in comparison. Take Obama’s “chained CPI” proposal: it would save an estimated $89 billion over ten years, or 1.3 percent of the total deficit over those same ten years.