The Homa Files

The National Journal Reports …

A Congressional Budget Office analysis of the fiscal 2011 spending deal that Congress will vote on Thursday concludes that it would cut spending this year by less than one-one hundredth of what both Republicans or Democrats have claimed.

A comparison prepared by the CBO shows that the omnibus spending bill, advertised as containing some $38.5 billion in cuts, will only reduce federal outlays by $352 million below 2010 spending rates. The nonpartisan budget agency also projects that total outlays are actually some $3.3 billion more than in 2010, if emergency spending is included in the total.

The astonishing result, according to CBO, is the result of several factors: increases in spending included in the deal, especially at the Defense Department; decisions to draw over half of the savings from recissions, cuts to reserve funds, and mandatory-spending programs; and writing off cuts from funding that might never have been spent.

* * * * *

Ken’s Take: Either Boehner was in on the con, or he’s so stupid that he was had.

Either way, he should resign as Speaker of the House,

That’s what I think …

This entry was posted on April 14, 2011 at 6:50 am and is filed under Budget - Deficit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.