posted on Jul, 28 2011 @ 03:24 AM
The budget proposals are confusing, with political spin obfuscating the impact of each budget as they are announced.
I put together a list of the budgets I could find, with rough debt limit, cuts and spending impact. Are there other 2012 budget proposals I've
Gang of Six (July 19) - No debt limit, cuts $560B, raises taxes by $3.8T
Ryan Plan (April 5) - Debt limit unclear, reduce spending by $4.4T, tax increases unclear
Cap-Cut-and-Balance (July 20) - No debt limit, but any budget increase requires an equal cut, no tax increases
Bohner Plan (July 27) - Temporarily increases debt limit by $1T, reduce spending by $1.1T, tax increases unclear
Reid - Increase debt limit by $2.7T, spending increases by $3.2T, raises taxes by $1.5T cbo.gov...
Obama (Feb 14) - Raises debt ceiling by $10.4T, spending increases unclear, tax increases unclear. High debt reduces long term national real output.
Reid/Bohner plans compared: capitolhill.wusa9.com...
Greenspan on Ryan plan and debt ceiling: