Tag Archives: tax code

Congressional Budget Fail

How not to sell a federal budget to the public: call it $4 trillion in cuts, then call it $38 billion in cuts, then have the CBO tell you it’s actually $383 million in cuts with a $400 billion increase over the current-policy baseline…and then be lambasted for “nihilistic extremism” and “ruinous spending cuts.”"...and then a miracle happens"

The new plan doesn’t commit to decreasing government spending below 23% of GDP, when our best-case-scenario revenue is about 19.5% revenue. So we can count on an anual deficit of greater than 3.5% of GDP, under optimal conditions. Additionally, social security, the largest item on the federal budget sheet, is left entirely untouched.

I like that “tax increases” are now called “spending cuts in our tax code” – which implies that all of our money actually belongs to the government, and we should be thankful for all the money it doesn’t take from us.

Tagged , , , , , ,