Thursday, February 17, 2011

Obama's Budget

Keith Hennessey is getting a lot of attention for his graphic of the Obama budget.

The complaint boils down to it's not a serious budget proposal because it doesn't address long term Medicare and Social Security cost growth. What everyone should remember is that congressional Republicans are piecing together a budget as well, and it does: exactly nothing about the long term cost growth of Medicare and Social Security. Also keep in mind that a big part of the CURRENT deficit was signed by Republicans in the extension of the Bush tax cuts with the payroll tax holiday.

So for the Republican proposal you could essentially take Obama's blue line and shift it down by .6% of GDP (they propose to cut the budget 100 billion from Obama's, but only from non military discretionary spending). Almost indistinguishable at the resolution of his graphic.

Hennessey is proposing that his argument is with Democrats and Obama when it's really ALL politicians.

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