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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (46744)10/27/2010 9:44:07 PM
From: TimF  Read Replies (2) of 71588
 
"$240 Billion of savings / cost cuts per year" can mean that much in total savings for each year going forward. In which case its obviously not enough.

But it can also mean $240bil in cuts the first year, $480bil the 2nd, $720bil the third, and (assuming your starting with FY 2011) $960bil by 2015. Add to that the savings on interest (both from having less principle owed because your borrowing much less, and from probably paying less than we would have paid on interest because our government is seen as far more fiscally responsible and solid than it otherwise would have been. Then you have the recovery after the recession increasing revenue and it would likely be enough.

Edit - And his post said "apart from interest", so after subtracting out the remaining interest, and only considering the "primary budget deficit" it would almost certainly be enough. There is no way the CBO has disagreed with that statement. (Actually its very unlikely that they even evaluated it, but if they did they aren't going to call it false.)

2nd edit - Actually I see it wasn't initially his statement, it was quoted. You where not challenging that statement, but rather the one on Obamacare. I could rewrite the whole post, but I'll leave what I wrote in place and just add a more relevant comment -

The Obamacare "savings" involve some pretty dubious counting. To its credit the CBO has pointed that out, but it included them in its formal, pre-vote, assessment of the bill.
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