Monday, March 18, 2013

Amusing: Senate Democrats Budget Takes Credit For Sequester Savings...


Via FOX News
But there was a major disconnect in the way each side was calculating its numbers.

Democrats claimed all along their plan would achieve $1.85 trillion in deficit reduction over the next decade, half through spending cuts and half through tax hikes.

But the top Republican on the Senate Budget Committee, Sen. Jeff Sessions of Alabama, argues the plan is taking credit for the reduced spending level already achieved when mandatory, across-the-board cuts known as sequester took effect March 1. 

The Democrats' plan would replace the sequester and build on that savings for a total of $975 billion in alternative cuts and $975 billion in tax hikes over 10 years. But, as Democratic staffers acknowledged during committee testimony last week, their plan also counts the replacement cuts toward their total deficit-reduction figure.

"I believe you're using the money twice," Sessions said, arguing that the true savings is more like $700 billion.

Read more here...

No comments: