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FACT CHECK: Deficit Reduction

FACT CHECK: Deficit Reduction

CBO Has Said That Long Term Projections Are “Not Meaningful” While Democrats Have Already Blown Through Their Most Optimistic Savings In Health Bill

REP. JOHN BOCCIERI (D-OH): “I Will Be Voting Yes For The Bill. Yes I Got A Deficit Reduction Of $1.2 Trillion In The Second Ten Years And $138 Billion In The First Ten Years.” (Rep. Boccieri, Press Conference, 3/19/10)

Claimed Deficit Reductions Completely Overwhelmed By Democrat Spending Spree

“The Latest Posting From The Treasury Department Shows The National Debt Has Increased Over $2 Trillion Since President Obama Took Office. The debt now stands at $12.6 trillion. On the day Mr. Obama took office it was $10.6 trillion.” (“National Debt Up $2 Trillion On Obama’s Watch,” CBS News, 3/16/10)

“The Deficit Through The First Five Months Of This Budget Year Totals $651.6 Billion, 10.5 Percent Higher Than A Year Ago.” (“Budget Deficit Sets Record In February,” AP, 3/10/10)

“The Government Ran Up The Largest Monthly Deficit In History In February, Keeping The Flood Of Red Ink On Track To Top Last Year’s Record For The Full Year. The Treasury Department Said Wednesday That The February Deficit Totaled $220.9 Billion, 14 percent higher than the previous record set in February of last year.” (“Budget Deficit Sets Record In February,” AP, 3/10/10)

CBO: Estimates On Senate Bill Beyond 2019 “Not Meaningful,” Reconciliation Could Have “Zero” Impact

CBO: “A Detailed Year-By-Year Projection For Years Beyond 2019, Like Those That CBO Prepares For The 10-Year Budget Window, Would Not Be Meaningful Because The Uncertainties Involved Are Simply Too Great.” (CBO Director Doug Elmendorf, Letter To Sen. Harry Reid, 12/19/09, P. 15)

·         CBO: “The Incremental Effect Of Enacting The Reconciliation Bill (Over And Above The Effect Of Enacting H.R. 3590 By Itself)” Could Be “Zero.” “Although CBO does not generally provide cost estimates beyond the 10-year budget projection period, certain Congressional rules require some information about the budgetary impact of legislation in subsequent decades, and many Members have requested CBO’s analyses of the long-term budgetary impact of broad changes in the nation’s health care and health insurance systems. Therefore, CBO has developed a rough outlook for the decade following the 2010-2019 period … The incremental effect of enacting the reconciliation bill (over and above the effect of enacting H.R. 3590 by itself) would thus be to further reduce federal budget deficits in that decade, with a total effect that is in a broad range between zero and one-quarter percent of GDP.” (CBO Director Doug Elmendorf, Letter To Rep. Nancy Pelosi, 3/18/10, P.3-4)
SENATE REPUBLICAN COMMUNICATIONS CENTER

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About Tom White

Tom is a US Navy Veteran, owns an Insurance Agency and is currently an IT Manager for a Virginia Distributor. He has been published in American Thinker, currently writes for the Richmond Examiner as well as Virginia Right! Blog. Tom lives in Hanover County, Va and is involved in politics at every level and is a Recovering Republican who has finally had enough of the War on Conservatives in progress with the Leadership of the GOP on a National Level.

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