Top Leaderboard, Site wide
September 19, 2014
Truthdig: Drilling Beneath the Headlines
Help us grow by sharing
and liking Truthdig:
Sign up for Truthdig's Email NewsletterLike Truthdig on FacebookFollow Truthdig on TwitterSubscribe to Truthdig's RSS Feed

Newsletter

sign up to get updates


The Wheel Turns, the Boat Rocks, the Sea Rises
Warming Will Leave Drought-Hit California Reeling
A New Way Insurers Are Shifting Costs to the Sick




On the Run


Truthdig Bazaar more items

 
Ear to the Ground

Ryan’s Budget Figures Don’t Add Up

Email this item Email    Print this item Print    Share this item... Share

Posted on Aug 17, 2012
401(K)2012 (CC BY-SA 2.0)

Certain media pundits’ hearts are aflutter over how honest, intellectual and responsible GOP vice presidential candidate Paul Ryan supposedly is. But not economics professor Bill Black, who shows that Ryan’s “Tinker Bell” budget proposal uses numbers that have nothing to do with the economy to achieve fiscal balance in the next few decades.

—Posted by Alexander Reed Kelly.

Bill Black at AlterNet:

You may read reports that the Ryan budget plan achieves a balanced budget in 2040. That is not correct. He created fantasy numbers, instructed the Congressional Budget Office (CBO) to suspend disbelief (and its normal methodology, which actually crunches the numbers) and treat the fantasy numbers as real. He had to order the CBO to accept his fictional, numbingly over-optimistic numbers as reality in order to achieve a faux balanced budget nearly three decades from now. Absent the fictions his non-budget never eliminates the deficit. Ryan’s deliberate misuse of the CBO to attempt to lend credibility to partisan fantasy numbers is a cynical act of dishonesty. The CBO issued this warning about Ryan’s manipulation of the budget estimation process.

At the request of the Chairman of the House Budget Committee, Congressman Paul Ryan, the Congressional Budget Office (CBO) has calculated the long-term budgetary impact of paths for federal revenues and spending specified by the Chairman and his staff. The calculations presented here represent CBO’s assessment of how the specified paths would alter the trajectories of federal debt, revenues, spending, and economic output relative to the trajectories under two scenarios that CBO has analyzed previously. Those calculations do not represent a cost estimate for legislation or an analysis of the effects of any given policies. In particular, CBO has not considered whether the specified paths are consistent with the policy proposals or budget figures released today by Chairman Ryan as part of his proposed budget resolution.

Read more

More Below the Ad

Advertisement

Square, Site wide

New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

 
Right 1, Site wide - BlogAds Premium
 
Right 2, Site wide - Blogads
 
Join the Liberal Blog Advertising Network
 
 
 
Right Skyscraper, Site Wide
 
Join the Liberal Blog Advertising Network
 

A Progressive Journal of News and Opinion   Publisher, Zuade Kaufman   Editor, Robert Scheer
© 2014 Truthdig, LLC. All rights reserved.