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Friday, July 29, 2011

CBO Analysis: Boehner Plan Better Than Reid Plan

The Hill reports:

The debt-ceiling plan authored by House Speaker John Boehner (R-Ohio) cuts the deficit by more than the plan by Senate Majority Leader Harry Reid (D-Nev.) if an assumption about war funding is removed from the Reid bill.

Without assuming a drawdown in military activities in Afghanistan and Iraq, the Reid bill only cuts the deficit by $909 billion. That's $8 billion less than the $917 billion Boehner plan. With the war funding factored in, the Reid plan cuts $2.176 trillion over 10 years.

The newly revised Boehner plan has the potential for even greater savings because it would require a balanced budget be enacted. Depending on how it is structured, a balanced budget could require many trillions of dollars in deficit cuts to achieve.

A Republican Study Committee budget would balance the budget in a decade by imposing $9.4 trillion in spending cuts without tax increases.

The Boehner plan, with changes made overnight, is expected to pass the House and Harry Reid has already stated he would kill it in the Senate.

Also, Boehner visited the Senate Republicans and received a standing ovation for the hard work and steady battle he has fought to get a bill that would reduce spending and not raise taxes on Americans.

On a side note, via Gallup, Obama's constant barrage of public speeches attacking Republicans has backfired with voters and he has hot a new low of 40%.


We Didn't Spend Our Way To Our Debt In A Day And We Can't Cut Our Way Out In A Day