Free Markets, Free People
Debt limit talks — DC Math and political theater mask the lack of seriousness concerning out-of-control spending
Speaker of the House Boehner’s plan for deficit and debt reduction was shown to be an exercise in “DC Math”. The CBO scored the proposal and determined that the 1.2 trillion “savings” over 10 years actually cut only $1 billion in actual spending next year.
The first installment of $900 billion is contingent on enacting 10 year caps on annual appropriations which the leadership had hoped would save well over $1 trillion. But CBO late Tuesday came back with a report showing the legislation would reduce deficits by $850 billion when measured against the agency’s most current projections for spending.
Yeah, I think we want significantly deeper cuts in spending than that. And of course, keep in mind most Democrats were even opposed to that.
But at least Boehner actually had a plan CBO could score. From Jim Geraghty’s “Morning Jolt” we learn of this conversation in the White House press room (Weekly Standard):
[Chuck] Todd asked Carney about the White House’s reluctance to release its plan to deal with the national debt and raising the debt ceiling. Carney acknowledged the White House was playing games. "We’re showing a lot of leg," he said. When Todd pressed for details — "Why not just release it?" — Carney seemed surprised. "You need it written down?"
What a difference two years makes. In the spring of 2009, with Republicans in the minority in the House of Representatives, the White House and its Democratic allies were demanding specifics. The House GOP had to produce an alternative budget, the White House demanded, in order to show that they were serious about governing.
Geraghty also points to a wonderful rant by Guy Benson over at Townhall concerning the demand for an actual plan:
Yes, actually, we do need "something printed." Since his unmitigated failure of a budget was unanimously defeated in the Senate, this president has refused to offer a specific plan of his own on virtually anything at all. Instead, he talks about "visions" and "contours" and "frameworks" — and tries to blame his opponents when his poor leadership is exposed. Over the last five days, the president has (a)undermined a bargain with John Boehner by introducing an unacceptable eleventh-hour condition, (b) rejected "out of hand" a bipartisan compromise that he found to be politically unpalatable, and (c) delivered a speech that painted his opponents as the intractable extremists. In light of this behavior, it’s entirely reasonable for Americans to wonder what, precisely, Barack Obama’s proposed solution might be. Today, the White House dismissively waived off that question as a GOP talking point and condescendingly inquired if the journalist who dared to ask it was capable of taking notes.
I’ll close with an unsolicited word of advice, and a friendly reminder from the CBO director. The advice: When you’re already plumbing new depths of unpopularity, dialing up your arrogance isn’t a winning strategy. Even David Brooks finds it unseemly.
By the way, Harry Reid’s plan is purported to show about $2 trillion plus in savings by assuming the wars we’re involved in will cost hundreds of billions a year for 10 years, knowing full well that those wars are wrapping up and wrapping up soon (well except for Libya which seems to have shifted from “weeks not months” to “months not years” at this point).
In other words the usual nonsense from Washington DC. Math tricks which say to anyone who is on to them, “these guys aren’t serious”.