Debunking Myths about the Deficit Commission
I was on Bloomberg TV yesterday with hosts Carol Massar and Matt Miller to talk about the myths in the deficit commission’s plan — watch the clip here.
I think the biggest myth about the deficit commission’s plan is the idea that it cuts spending. Under the commission’s plan, spending would grow from $3.6 trillion today to $5.1 trillion in 2020, instead of growing to $5.6 trillion otherwise (I didn’t make that clear in the interview). In other words, the commission’s plan grows spending by $1.6 trillion instead of growing it by $2 trillion. Big deal; it’s still growing spending dramatically.
The sad part is that, as Nick Gillespie and I demonstrate in our recent piece, it isn’t difficult to cut spending, especially spending that hasn’t been appropriated yet and hasn’t occurred yet.