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Title: CBO Analysis of Reid Plan - $2.2 trillion in savings
Source:
CBO
URL Source: http://www.cbo.gov/doc.cfm?index=12338
Published: Jul 27, 2011
Author: CBO
Post Date: 2011-07-27 09:39:21 by go65
Keywords: None
Views: 16876
Comments: 46
The Congressional Budget Office (CBO) has estimated the impact on the deficit of the Budget Control Act of 2011, as proposed in the Senate on July 25, 2011. The legislation would: Establish caps on discretionary spending through 2021, including separate caps on new funding for war-related activities, Allow for certain amounts of additional spending for "program integrity" initiatives aimed at reducing the amount of improper benefit payments and enhancing compliance with tax laws, Extend and expand authority to auction licenses for parts of the electromagnetic spectrum, Make changes to the Pell Grant and student loan programs, Reduce certain payments to agricultural producers, Increase the debt limit by $2.7 trillion, Reinstate and modify certain budget process rules, and Create a joint Congressional committee to propose further deficit reduction. In total, if appropriations in the next 10 years are equal to the caps on discretionary spending and the maximum amount of funding is provided for the program integrity initiatives, CBO estimates that the legislation would reduce budget deficits by about $2.2 trillion between 2012 and 2021 relative to CBO's March 2011 baseline adjusted for subsequent appropriation action.
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#3. To: go65 (#1)
I heard a talking head on TV say that there are whispers that they will all have to get some sort of 10 or 20 day extension so this charade can continue further into the slowest news month of the year - now that Murdoch is off the radar.
It's a risk run when the best they have is the power of "No".
"...all of the equations in neoclassical economics are rubbish. The differential equations describe nothing. Economics is not about mathematics, it is about the human being." Sandeep Jaitly
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
I'm sorry, but all the local preschool baby sitting positions have been already taken. And MATURE adults don't respond well to your choice of graphics. Does a 'big','successful' businessman such as yourself really spend much time on MySpace?
I finally adjusted my settings to filter out taglines thanks to CE.
The number he gives in cuts is a complete deception and a phony. The $1 trillion savings on surge-level [spending] in Iraq and Afghanistan is a fiction. Nobody advocated it. It wasn’t going to happen. We weren’t going to spend it. I’m told there’s an extra $10 billion in here of savings from not invading Normandy a second time.
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
Reid on TV now...Most unflamboyant gay man ever. Pathetic "first team" Dems.
Great line.
It's actually Krauthammer's line
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
I did too, plus one of the graphics was interfering with my computer.
Krauthammer.... the Israel Firster? I notice that curtailing current war expenditures are NEVER ever discussed by that one.
If he is or isn't, what does that have to do with anything here?
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
It's the deficit, stupid. He's another war monger for the tribe. The military never receives enough cash for that one to be happy.
He's not calling for the military to receive more money. Just making stupid shit up, are you?
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
He's not calling for their budget to be cut either. And he's always urging a solution to the Iran problem. Which you so called "conservatives" must think will not cost a cent.
you are aware that the Ryan framework uses the same savings from winding down military options in Iraq and Afghanistan as part of its goal of achieving a balanced budget by 2019. I assume you are also aware that EVERY member of the House GOP voted for the Ryan plan, even though it ADDS $12 TRILLION to the national debt? Think about that the next time you hear a tea party Congressman (or woman) proclaim that they oppose any increasing of the debt limit.
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But those evil Iranians are going to invade America by sea and turn us into Persians! /sarc
So what? He's not phonily calling it his savings plan. He's just acknowledging current dynamics.
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
Well you never document anything, but go ahead and document what Obama's personal plan adds to the national debt.
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
Obama doesn't control the House, the Republicans do. BTW, i was wrong about the Ryan plan, it adds $6 trillion to the debt over the next 10 years, not $12 trillion. And Michelle Bachmann, who says she'll never vote to raise the debt ceiling, voted for the Ryan plan, as did every other member of the Tea Party caucus.
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So never before in the history of the US has a President submitted a preliminary budget proposal?
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
sure he is, and his OWN table shows a $1 trillion savings from winding down the "global war on terror" over the next 10 years. See table S-4, line 2.
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are you still not aware that every GOP member of the House is ON RECORD as voting to raise the debt ceiling by $6 trillion over the next 10 years?
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So what would be added to the debt without the Ryan plan, which was stated to be the equivalent of pushing old people off a cliff? If all you are going to do is bitch about the Republican's plan, than come up with a plan your self which will balance the budget and not push granny off a cliff. Oh that's right the Democrats didn't even submit a plan for 2 years.
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
I think you keep missing the point. The same folks who have said that they will not support raising the debt ceiling have ALREADY voted to raise the debt ceiling. But if you want to support the current plan that offers the greatest deficit reduction, endorse the Reid plan.
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There's not a damn thing in the Reid plan that offers any real savings. It's all smoke and mirrors and wishing. You present this smoke and mirrors to the CBO and tell them it's real and they just take you word for it. That's how it works.
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
CBO Finds Reid Plan Half A Trillion Short Of $2.7 Trillion Promised; Actual Cuts Are $375 Billion Over Ten Years Now it is time to do the same to Harry Reid, after the CBO has just released its analysis of his so-called "plan", which has double the credibility, and dollar, hole: per the CBO the plan 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 why stop there - savings from not declaring war on Mars: $1 quadrillion; savings from not paradropping suitcases full of $1 billion dollar bills for every US citizen: $333 quadrillion, and so forth. 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! Is there a wonder why with idiotic leaders like this the true US rating is CCC at best?
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
Dumbass. The problem with this laughable 'talking point' is suceeding congress's aren't bound by such a deal. Course, we both know why clowns like you don't note this, the truth utterly destroys this talking point.
Proxy IP's are amusing.....lmao
Yep, and 2.2 is greater than .85 is it not?
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You post this, and then you post a CBO study showing the Reid plan reduces future deficits by $2.2 trillion over 10 years. Feel free to continue to debate with yourself.
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Yep, and 2.2 is greater than .85 is it not? Learn to read Actual Cuts Are $375 Billion (if even that) Over Ten Years in the Reid Plan
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
Did you miss the CBO analysis that YOU posted? $2.2 trillion > $850 billion
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Did you miss why that is bullshit?
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
YOu don't seem to read carefully - even if you factor out the defense savings and future interest payments, per the CBO analysis Reid's bill reduces future deficits by $900 billion vs. $851 billion for Boehner's bill. You keep looking for ways to justify your support for an approach that reduces future deficits LESS than what the Democrats have proposed.
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Now it is time to do the same to Harry Reid, after the CBO has just released its analysis of his so-called "plan", which has double the credibility, and dollar, hole: per the CBO the plan 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 why stop there - savings from not declaring war on Mars: $1 quadrillion; savings from not paradropping suitcases full of $1 billion dollar bills for every US citizen: $333 quadrillion, and so forth. 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! Is there a wonder why with idiotic leaders like this the true US rating is CCC at best?
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
Again, The Paul Ryan budget framework, endorsed by ALL GOP HOUSE MEMBERS uses THOSE SAME SAVINGS. Where was the outrage from Tea Partiers over Ryan's plan (oh wait, that's right, they all voted for it - the same plan that adds $6 TRILLION in future debt. And again, look at the CBO analysis - EVEN IF you factor out the national security and interest savings, the Reid plan reduces future deficits by $49 billion more And again, you keep trying to find a way to support a plan that reduces deficits LESS than the Reid plan.
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Dem lawmaker: 'Nobody I know' has seen Reid plan
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
The math that has just been presented to you shows that is not true.
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
Interest payments are made "on budget". Lower interest payments in the 1990's played a significant role in reducing the budget deficits. So. of course they play a role. Only a Boofer would believe that they don't. ~~~~~~~~~~~~~~~~~~~~~~~~ According to CBO, Boehner's plan would cut about $850 billion from federal budget deficits between 2012 and 2021 relative to the March 2011 baseline. Relative to its January baseline - a score Boehner requested be calculated - CBO reported that the bill would reduce deficits by about $1.1 trillion. The bulk of the plan's savings would come from capping discretionary spending. The adjusted March baseline accounts for reductions in projected spending that had already been enacted through the appropriations process after the January baseline had been prepared. The January baseline largely assumed funding levels that had been continued from the previous year. The March baseline used in the scoring is what Boehner negotiated with the White House earlier this year to reduce spending and head off a shutdown. To score Boehner's legislation, both the January and the March baselines were adjusted to account for the expected reductions in winding down the wars in Iraq and Afghanistan. The baseline used by CBO to score Boehner's plan includes the savings already projected for the wind down. Republicans have accused Senate Majority Leader Harry Reid, D-Nev., of inflating the savings in his competing $2.7 trillion plan by using accounting gimmicks that are achieved by the winding down the wars, but Reid's plan has not yet been scored. Relative to the March baseline, CBO estimates that Boehner's plan would return about $695 billion in savings from discretionary spending, $20 billion from mandatory spending, and $135 billion in savings on interest paid on the public debt due.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
375 billion dollars in interest savings would amount to a relative budget savings of about 10 trillion dollars to account for that kind of interest savings. Anyway, who's that jive ass nigger in your tag line? Some kind of love interest?
Now, I know Iām not going to change the minds of any of the True Believersā¦those who read all of Reverend Alās sermons, and say things like, āYou know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, ā¦ā. Can I get an āamenā??
CBO disagrees with you. It's your dad...and I'm too old for him...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
Comments (44 - 46) not displayed.
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#4. To: go65 (#1)
The GOP House will then have to decide it if wants to pass the Reid plan with $2.2 trillion in savings, or let the country go into default. If they vote it down, they will have to explain why they opposed a plan that cuts $2.2 trillion in spending, more than their own plan, and doesn't raise any taxes and thus let the country go into default.
#5. To: go65 (#0)
CBO Analysis of Reid Plan - $2.2 trillion in savings
Freedom is slavery.
Ignorance is strength.
#6. To: Capitalist Eric (#5)
http://www.myspacegraphics24.com
#7. To: mininggold (#6)
#8. To: go65 (#0)
stablish caps on discretionary spending through 2021, including separate caps on new funding for war-related activities,
#9. To: All (#0)
Durbin- Full campaign mode, getting fat
Chuck Shumer- "Speaker wasting time", trying to be funny...not
#10. To: no gnu taxes (#8)
I’m told there’s an extra $10 billion in here of savings from not invading Normandy a second time.
#11. To: socalv8 (#10)
#12. To: Fred Mertz (#7)
I finally adjusted my settings to filter out taglines thanks to CE.
#13. To: no gnu taxes (#11)
(Edited)
It's actually Krauthammer's line
#14. To: mininggold (#13)
#15. To: no gnu taxes (#14)
(Edited)
To: mininggold If he is or isn't, what does that have to do with anything here?
#16. To: mininggold (#15)
The military never receives enough cash for that one to be happy.
#17. To: no gnu taxes (#16)
He's not calling for the military to receive more money. Just making stupid shit up, are you?
#18. To: no gnu taxes, socalv8 (#8)
The number he gives in cuts is a complete deception and a phony. The $1 trillion savings on surge-level [spending] in Iraq and Afghanistan is a fiction. Nobody advocated it. It wasn’t going to happen. We weren’t going to spend it.
#19. To: mininggold (#17)
#20. To: go65 (#18)
you are aware that the Ryan framework uses the same savings from winding down military options in Iraq and Afghanistan as part of its goal of achieving a balanced budget by 2019.
#21. To: go65 (#18)
I assume you are also aware that EVERY member of the House GOP voted for the Ryan plan, even though it ADDS $12 TRILLION to the national debt?
#22. To: no gnu taxes (#21)
Well you never document anything, but go ahead and document what Obama's personal plan adds to the national debt.
#23. To: go65 (#22)
#24. To: no gnu taxes (#20)
So what? He's not phonily calling it his savings plan. He's just acknowledging current dynamics.
#25. To: no gnu taxes (#23)
So never before in the history of the US has a President submitted a preliminary budget proposal?
#26. To: go65 (#22)
it adds $6 trillion to the debt
#27. To: no gnu taxes (#26)
So what would be added to the debt without the Ryan plan
#28. To: go65 (#27)
But if you want to support the current plan that offers the greatest deficit reduction, endorse the Reid plan.
#29. To: go65 (#27)
#30. To: go65 (#0)
#31. To: no gnu taxes (#29)
CBO Finds Reid Plan Half A Trillion Short Of $2.7 Trillion Promised; Actual Cuts Are $375 Billion Over Ten Years
#32. To: no gnu taxes (#28)
There's not a damn thing in the Reid plan that offers any real savings
#33. To: go65 (#31)
(Edited)
CBO Finds Reid Plan Half A Trillion Short Of $2.7 Trillion Promised; Actual Cuts Are $375 Billion Over Ten Years
#34. To: no gnu taxes (#33)
Actual Cuts Are $375 Billion (if even that) Over Ten Years in the Reid Plan
#35. To: go65 (#34)
Now it is time to do the same to Harry Reid, after the CBO has just released its analysis of his so-called "plan", which has double the credibility, and dollar, hole: per the CBO the plan 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 why stop there - savings from not declaring war on Mars: $1 quadrillion; savings from not paradropping suitcases full of $1 billion dollar bills for every US citizen: $333 quadrillion, and so forth. 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! Is there a wonder why with idiotic leaders like this the true US rating is CCC at best?
#36. To: no gnu taxes (#35)
(Edited)
Did you miss why that is bullshit?
#37. To: go65 (#36)
#38. To: no gnu taxes (#37)
that's right: savings from not fighting future wars - a cool trillion.
#39. To: go65 (#36)
#40. To: go65 (#38)
#41. To: no gnu taxes (#37)
Gotta love the circularity: less interest payments are part of the actual deficit cuts!
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#42. To: war (#41)
#43. To: no gnu taxes (#42)
(Edited)
375 billion dollars in interest savings would amount to a relative budget savings of about 10 trillion dollars to account for that kind of interest savings.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
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