The Republican Hocus Pocus Budget
Five Magic Tricks Republicans Use to Balance Their Budget
The House Republican budget introduced by Paul Ryan claims to balance the budget in 10 years by cutting $4.6 trillion from the deficit. Yet a closer look at the details reveals that the Republican budget relies on a host of deceptive gimmicks, impossible arithmetic, and unrealistic assumptions. This report pulls back the curtain on Chairman Ryan's budgetary sleight of hand.
You can find the full report here.
FIVE MAGIC TRICKS REPUBLICANS USE TO BALANCE THEIR BUDGET
1. The Republican budget claims tax cuts for the wealthy - which cost more than $4.5 trillion - won't add to the deficit.
2. The Republican budget relies on almost $800 billion in unrealistic and undefined mandatory savings.
3. The Republican budget's $810 billion in Medicaid "savings" are just costs shifted onto the states' tab.
4. The Republican budget counts $716 billion in Medicare savings from the health care reform law that Republicans say they want to repeal.
5. The Republican budget relies on outlandishly rosy assumptions about revenue and spending levels.