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- May 22, 2012
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By John Merline
03/15/2013
In their first budget in four years, Senate Democrats claim to have crafted a plan that cuts federal spending a total of $975 billion over the next decade.
"This budget cuts spending responsibly," said Senate Budget Chairman Patty Murray, D-Wash., this week. "There are no sacred cows; we put everything we can on the table."
But an IBD review of the budget data shows that the Senate vastly overstates the size of its spending cuts. In fact, it could be that the Senate would, if enacted, increase federal spending by hundreds of billions of dollars.
(Excerpt)
Read more:
Senate Democrats Use Budget Gimmicks to Hide Spending Increases - Investors.com
03/15/2013
In their first budget in four years, Senate Democrats claim to have crafted a plan that cuts federal spending a total of $975 billion over the next decade.
"This budget cuts spending responsibly," said Senate Budget Chairman Patty Murray, D-Wash., this week. "There are no sacred cows; we put everything we can on the table."
But an IBD review of the budget data shows that the Senate vastly overstates the size of its spending cuts. In fact, it could be that the Senate would, if enacted, increase federal spending by hundreds of billions of dollars.
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The bottom line is that despite nearly $1 trillion in new taxes, the Senate plan never comes close to producing a balanced budget, with red ink reaching a yearly low of $407 billion before climbing to $602 billion in 2022.(Excerpt)
Read more:
Senate Democrats Use Budget Gimmicks to Hide Spending Increases - Investors.com