In case anybody wonders why “compromise” with any Democrat “deficit reduction plan” merely means going to hell in a slightly slower handbasket, the Congressional Budget Office’s analysis of Obama’s plan to get America back on sound fiscal footing shows nothing but more of the same as far as tax & spend goes.
From CNS News:
“According to CBO’s projections, if all of President Obama’s budgetary proposals were enacted, they would add $26 billion to the baseline deficit for 2011,” said the CBO analysis. “As a result, the 2011 deficit would total $1.43 trillion or 9.5 percent of Gross Domestic Product.” Under the baseline projection, as of April, CBO estimated the deficit this year would reach $1.399 trillion.
“In 2012, the deficit under the President’s budget would decline to $1.2 trillion, or 7.4 percent of GDP, CBO estimates. That shortfall is $83 billion greater than the deficit that CBO projects under the current baseline,” said the CBO report. “Deficits in succeeding years under the President’s proposal would be smaller than the deficit in 2012, although they would still add significantly to the federal debt.”
“In all, deficits would total $9.5 trillion between 2012 and 2021 under the President’s budget (or 4.8 percent of total GDP projected for that period)–$2.7 trillion more than the cumulative deficit in the CBO baseline,” said CBO.
So doing nothing would slow spending faster than implementing Obama’s “deficit reduction proposals.” How very… un-surprising.
The fact is that the White House will be incapable of coming up with anything that reverses the “road to bankruptcy” trend. They can’t. There is no “reverse” gear on their tax & spend console — their only tax & spend gears are “overdrive” and “afterburner.”