Friday, July 29, 2011

Boehner plan comes out on top in new CBO analysis requested by GOP

The debt-ceiling plan authored by House Speaker John Boehner (R-Ohio) cuts the deficit by more than the plan by Senate Majority Leader Harry Reid (D-Nev.) if an assumption about war funding is removed from the Reid bill. - The Hill

Without assuming a drawdown in military activities in Afghanistan and Iraq, the Reid bill only cuts the deficit by $909 billion. That's $8 billion less than the $917 billion Boehner plan. With the war funding factored in, the Reid plan cuts $2.176 trillion over 10 years....

The newly revised Boehner plan has the potential for even greater savings because it would require a balanced budget be enacted. Depending on how it is structured, a balanced budget could require many trillions of dollars in deficit cuts to achieve.

Boehner gets standing ovation from Senate Rs - ABC