CBO smacks Republicans and Defict Hawks with new report
The CBO proves the only reason America should have a deficit problem is if Conservatives want one. Ezra Klein: The Congressional Budget Office just released the latest edition of its long-term budget outlook (pdf), and it shows the same thing as always: If Congress lets the Bush tax cuts expire or offsets their extension, implements the Affordable Care Act as scheduled and makes or offset the Medicare cuts prescribed by the 1997 Balanced Budget Act — which CBO calls the “extended baseline scenario” — the national debt will be totally manageable. If Congress passes laws extending the Bush tax cuts without offsetting the cost, repealing the Affordable Care Act and its cost controls and protecting doctors from Medicare cuts without making up the savings elsewhere — the “alternative fiscal scenario” — the national debt will be totally out of control : Or, if Politicians want a deficit they will get one. We can now say to the Villagers that if you guys want to have a serious and adult conversation about our deficit then tax increases for the rich are off the table and all the talk deficit fearmongering for months has been total garbage. Hullabaloo In other words there is no long term debt crisis unless the politicians decide to create one. Everything’s already in place to keep it perfectly under control. So why are we talking about it? I don’t think there’s any better evidence that this deficit fever is nothing more than a disaster capitalist boondoggle. The wealthy elites and their nihilist ideologue allies in both parties are flogging this debt crisis in order to enact favorable legislation and fill out their long term wish list. That they are doing it under a Democratic administration just makes it sweeter.
CBO smacks Republicans and Defict Hawks with new report
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on June 22, 2011. Filed under