Bad News For The Boehner Plan: CBO Says It Only Cuts $850 Billion Over Ten Years

[denem]

Source: Outside the Beltway

The Congressional Budget Office’s analysis of John Boehner’s debt plan is unlikely to help its fate in the House:

On the eve of a House vote, new cost estimates from the Congressional Budget Office could pose a problem for Speaker John Boehner as he tries to rally conservative support for his two-step plan to raise the federal debt ceiling and avert default next week.

The first installment of $900 billion is contingent on enacting 10 year caps on annual appropriations which the leadership had hoped would save well over $1 trillion. But CBO late Tuesday came back with a report showing the legislation would reduce deficits by $850 billion when measured against the agency’s most current projections for spending.

Read more: http://www.outsidethebeltway.com/bad-news-for-the-boehner-plan-cbo-says-it-only-cuts-850-billion-over-ten-years/

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Boehner had suggested 1.2 Trillion of cuts.

[Oceansaway]

1. k & r..nt

[FreakinDJ]

2. BREAKING NEWS on CNN now

[FLyellowdog]

3. So he lied?

I'm shocked! :sarcasm:

[Ruby the Liberal]

5. I think more was underestimated

I say that because he isn't challenging them or doubling down on it. They are rewriting it as we speak.

[Ruby the Liberal]

4. His office already announced that they are in process of adding ore cuts

because of how badly it scored.

[denem]

6. That ore would be iron pyrite

:)

[Ruby the Liberal]

8. Doh! Should have been 'more'

But very Freudian if I do say so.

:D

[denem]

9. Yep. But Iron Pyrite Ore was too good to pass up.

[truthisfreedom]

7. Like Pelosi said, these pukes can't add.

It's all about political posturing. This suit is nothing more than a life support system for a spray tan.

[cstanleytech]

10. Allow me to translate what the CBO really wanted to say to Boehner for you all

"Dear Sir,
In regards to your proposal we are reluctantly forced to disagree with it as our best projections based upon it only show a $850 billion dollar savings which is far short of what is needed.
To resolve the problem we offer up two suggestions which you may wish to consider implementing together and they are as follows.
#1. Raise more revenue.
#2. Pull your head out of your ass.

Best Regards."