no_such_reality wrote:CBO

[UCGal]

[quote=no_such_reality]CBO says expiring tax cuts is $4 Trillion over decade.

Let’s keep it simple and say it’s $400 billion. http://www.cbo.gov/sites/default/files/cbofiles/attachments/08-22-2012-Update_to_Outlook.pdf

Or let’s just look at CBO baseline revenue projection: $2.913T.

So $3.035T – $2.913T. So I’m short $120 Billion.

Fine increase cuts by 5%.

45% defense. 25%discretionary. Or would you like to quiblle over the $20Billion?

Of 40% defense and 30% discretionary. net $129 Billion gain to close the gap.

Or let’s really have fun, 50% defense, 30% discretionary, expire the tax cuts, payroll cuts and have enough to pay off the debt in 183 Years![/quote]
If I’m not mistaken – CBO projections are based on current law – including the expiration of the Obama extended Bush tax cuts AND the expiration of the SS tax cut.

So two of the fixes proposed are already “baked in” to the CBO projections.