CBO Says Budget Deal Will Cut Spending by Only $352 Million

LIKE I SAID, "NOT ENOUGH!!!!!"

(National Journal) 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-tenth 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, especially at the Defense Department; decisions to draw over half of the savings from recissions; and cuts to reserve funds and and money for mandatory-spending programs that might never have been spent.

New CBO Report Claim Repealing Obamacare Would Save $1.4 Trillion

It doesn't take rocket science to figure this no-brainer..............

(American Spectator) — Repealing the new national
health care law would result in gross savings of $1.4 trillion, a new report by the Congressional Budget Office finds.

During the health care debate, Democrats were hard pressed to keep up
with President Obama’s promise that the legislation would cost “around $900 billion.” So they employed the gimmick of delaying the major spending provisions until 2014 to make the legislation appear cheaper within the CBO’s ten-year budget window, then 2010 through 2019. At the time, I calculated that this tactic deferred 98 percent of the spending to the last six years of that period.

Well, now two years have passed, and the CBO’s budget window has shifted to 2012 through 2021 — and volià — the estimate that was $940 billion at the time of passage has suddenly gone up to $1.4 trillion. Keep in mind that this estimate still includes two years (2012 and 2013) prior to full implementation.

Clearly, the actual 10-year cost of the major coverage provisions is going to be even higher — likely something closer to $1.8 trillion.