An alternative budget proposal submitted by Congressman Paul Ryan (Wis.), the House Budget Committee's Republican ranking member, would increase the federal budget deficit even more than President Obama's bloated budget — nearly $1 trillion more — according to a February 24 analysis by the Congressional Budget Office (CBO).

Ryan's “alternative policy scenario” would make no serious spending cuts, but it would institute three new tax cuts. CBO Director Douglas Elmendorf explained to Ryan that “the three changes to the tax policy assumptions are estimated to increase deficits relative to the baseline projections by $9 billion in 2010 and $3.4 trillion over the 2011-2020 period, mostly from lower revenues but also from increased outlays for refundable tax credits.”

Elmendorf continued: “CBO estimates that, under the alternative scenario you specified, the deficit would amount to $1.2 trillion in 2020, about $500 billion more than the shortfall projected under baseline assumptions.” Overall, the Republican budget alternative would increase the federal budget deficit by $9.4 trillion over the next 10 years, while President Obama's fiscal 2011 budget would increase the deficit by $8.5 trillion over the same period of time.

Ironically, the House Republican website boasts its “Alternative Budget” for last year's budget (fiscal 2010) would spend less than Obama. “Under the Republican plan, deficits are $3.3 trillion lower for the 10-year budget period and fall below 3.0 percent of GDP over the 10-year period.” Ryan also postured against the recent vote to increase the national debt by $1.9 trillion, claiming:

We know irrefutably we’re going to bequeath this mountain of deficit and debt onto the next generation. Both of our parties share in the blame. No one party corners a virtue on fiscal responsibility. But we’re going to together have to come down here and fix this problem once and for all, and this doesn’t do it. This bill raises the debt limit by $1.9 trillion. It’s a fiscal cop-out so that we can talk tough in the election about how we did this and that, while we bequeathed the next generation an inferior standard of living.

The bipartisan fiscal cop-outs are evidently continuing, especially from the House Republicans.

America has two political parties, but both are engaging in a bidding war to see which can jack up the deficit higher than the other. The situation is reminiscent of Tammany Democrat William “Bourke” Cockran, who quipped back in 1894: “You can't outbid a profligate.” But what happens when two profligate parties are intent upon outbidding each other in deficit spending?

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Always American said:

But what happens when two profligate parties are intent upon outbidding each other in deficit spending? 3rd Party Constitutionalist ?

February 26, 2010

Bonnie said:

How's this "lesser evil" strategy working out for you? Like I've been trying to tell people all along... Republicrats and Demoplicans are just two sides of the same old coin. One will be in power, the other offers patriotic rhetoric. Then they switch roles. Nothing will change until the voting public gets it through their thick heads that there is no such thing as the "lesser evil". A third party vote is NOT wasted! A vote for the two major parties IS WASTED! You want the truth? Most people despise Mr. Soetoro, and rightly so. If Juan McStain had won the presidency, we would be NO BETTER OFF! Maybe even worse off. The great Commonwealth of Massachusetts got rid of the socialist Democrat Senator and got, in return, a socialist Republican Senator. That really worked out well for them, didn't it? The US got rid of Bush I, but got Clinton. The US saw through Gore, and got Bush II. Sheesh! Wanting to avoid McStain, Soetoro gets in. You numskulls who keep trying not to "waste" your vote and pick the "lesser evil" want to tell me how well your plans are working out? Don't blame me... I voted third party... again!

February 27, 2010

Glen Bradley said:

Nothing new here... It sounds like somebody took out a Contract On America, and the establishment party will be collecting the hit-fees in campaign contributions. These criminals have almost completely blocked access to government for anyone but other criminals -- $100,000 for a State house race?? really??? REALLY??? So while I, a grassroots candidate, languish under $4000, my opponent -- a Dem of the establishment party who participates in the game mentioned above, collects her $50,000 on a walk. These criminals of the establishment party, both Dem and Rep, are robbing us blind, and if someone doesn't get the message it will come down to torches and pitchforks.

February 27, 2010 | url

Jim said:

... Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself. -- Mark Twain

February 27, 2010

Joseph said:

CBO using static analysis LOL, mt be an Obamabot scoring these tax cut proposals since they do NOT account forany DP growth which would of course mean higher tax revenue. Here is what happened when GWB lowered taxes: Bush tax cuts of 2003 INCREASED revenue! REVENUE: 2003 $1.78 trillion 2004 $1.88 trillion 2005 $2.15 trillion 2006 $2.40 trillion 2007 $2.60 trillion http://fms.treas.gov/mts/backissues.html

February 28, 2010

Bonnie said:

More on GWB's increased revenue: Expenditures: 2003 $2.16 trillion 2004 $2.29 trillion 2005 $2.47 trillion 2006 $2.66 trillion 2007 $2.73 trillion Increased revenue is meaningless when expenditures rise even faster.

February 28, 2010

Jofas said:

Where will the money come from? Bernanke just said he is not going to monetize their debt and is turning off the printing press. So how on Earth are they going to go further in debt? I think they are guilty of Treason with what they have done to this country. FDIC is bankrupt. Social Security funds are all depleted, years before they were supposed to be. The ballot box is not the answer. Not even the cartridge box. Maybe it's time we draw up our own Declaration and surrender this Republic to someone else to run. Maybe Germany. If we got half the country to sign a Declaration of surrender to Germany to take over our Federal Government would it be a lawful document? Congress has gone mad.

February 28, 2010

Donald Johnson said:

Just shows Keynesians don't get it; lower taxes boost revenues; higher revenues boost spending Clearly, the opening poster doesn't understand economics nor politics. Lower taxes boost tax revenues. But when revenues rise, politicians feel they can spend more, and they spend more than they collect in taxes. So deficits rise. The problem is that when higher taxes depress tax revenues, politicians still spend more, and deficits rise even more rapidly.

February 28, 2010 | url

Bonnie said:

Congress has gone mad? You bet your sweet booty, they have! "If we got half the country to sign a Declaration of surrender to Germany to take over our Federal Government would it be a lawful document? " Let me rephrase it: If we got half the Congress to approve a Treaty of surrender to the United Nations to take over our Federal Government, would it be a lawful document? The Three Stooges, Harry, Barry, and Nancy, certainly seem to think so.

February 28, 2010

Jenn said:

... The posters that wrote about the correlation between lower tax rates are correct since the lower tax rates increase economic activity. However during good times, the congress and most state legislatures spend and spend and and spend and spend and spend and spend and spend and spend and spend.

February 28, 2010

David S said:

It's the spending stupid! Cutting taxes may increase revenue (Laffer curve), but I've often wondered why self-described conservatives would tout this as a good thing. We want government doing less, not more. More revenue simply justifies more unconstitutional and destructive government activity. Isn't it amazing that, even as a minority party, the GOP still can't get serious about the SPENDING CUTS required if this country is to have any hope of surviving long-term. I'm now convinced that deficits are even more destructive than higher taxes. Higher taxes are painful: Like pain in the body, they are an early warning that you are doing something wrong. Deficits, whether financed by borrowing or printing, delay the pain, allowing you to do more damage without taking corrective action.

March 01, 2010

WestWright said:

... Sonebody got punked by the captive CBO and Leftist Weasels...the problem is how to free the economy and kill the big Government. I see no worthy solutions here.

March 01, 2010

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March 04, 2010 | url

Volker said:

Urlaub auf Sylt in Germany Bin nur zufällig auf diese Seite gekommen,. Die schönen Moderationen und Informationen sind echt super. Über einen Gegenbesuch würde ich mich freuen. Urlaub auf Sylt oder an der Ostsee

March 10, 2010 | url