Sunday, March 24, 2013

What the Tea Party Congress accomplished:

3.6 trillion reasons why the 112th Congress was a huge success - Conn Carroll/Washington Examiner @conncarroll

...if you look at the hard numbers -- if you look at the tax-and-spending trajectory that the United States was on before the 112th Congress was sworn into office, and then look at the path the U.S. is on now -- you'd see that Republicans in Congress have made tremendous progress in shrinking the size and scope of the federal government.

Just weeks after Huelskamp was first sworn in, the nonpartisan Congressional Budget Office released its annual Budget and Economic Outlook for fiscal years 2011 through 2021. That document showed the federal government was on track to spend $3.7 trillion in 2011, or 24.7 percent of the entire U.S. economy, and a total of almost $50 trillion ($49.8 trillion to be exact) through 2021. At the same time, tax revenues were set to rise from just 14.8 percent of GDP in 2011 to 20.8 percent in 2021.

Huelskamp and his Republican colleagues changed all that. The 2011 Budget Control Act cut spending by $1.5 trillion, and the sequester cut it by an additional $1.2 trillion. At the same time, House Republicans were able to preserve nearly all of the expiring Bush tax cuts and cut the debt.

The CBO's Budget and Economic Outlook for fiscal years 2013 through 2023 shows just how much House Republicans have actually accomplished....