CBO's analysis of Ryan's 'Budget Blueprint' used wild revenue assumptions provided by Ryan!

[JohnWxy]

http://www.epi.org/blog/paul-ryan-budget-tax-cut-gimmicks/

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House Budget Committee Chairman Paul Ryan’s (R-Wis.) budget, which passed the House of Representatives on a party-line vote last week, continues to receive deserved criticism for its thoroughly dishonest treatment of the sweeping tax cuts it proposes. In a scathing critique, Paul Krugman honed in on its “fraudulent” nature: “The Ryan budget purports to reduce the deficit — but the alleged deficit reduction depends on the completely unsupported assertion that trillions of dollars in revenue can be found by closing tax loopholes.” William Gale of the Brookings Institution similarly concluded that “Ryan is gaming the system in creating budget estimates. … This is smoke and mirrors.”

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Ryan’s budget blueprint describes these offsets this way: “Broaden the tax base to maintain revenue growth at a level consistent with current tax policy and at a share of the economy consistent with historical norms of 18 to 19 percent in the following decades.” And the budget totals in the Ryan budget reflect revenue averaging 18.3 percent of GDP over FY2013-22; similarly, the Congressional Budget Office’s long-term analysis of Ryan’s budget[font color="red"] is predicated on the false assumption—provided by Ryan’s staff—that revenue will somehow total 19 percent of GDP over the long run (FY2025 and beyond)[/font].

This is simply dishonest. TPC’s analysis of the Ryan budget shows revenue averaging only 15.4 percent of GDP over FY2013-22, short of unspecified offsets.1 Yet Ryan wanted nearly $5 trillion in tax cuts and wanted revenue levels above 18 percent of GDP. Honest budgeting would force Ryan to choose between these two preferences (trade-offs being the whole point of budgeting). So Ryan chose dishonest budgeting,[font size="3"] instead of changing the policy, he just changed the numbers[/font].




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[freshwest]

1. But it still passed! More terrorism from the right. How many will die if it goes through?

Or if Romney is elected, since he says he'll sign it?

It's up to you, America.

[JohnWxy]

2. Paul Ryan, candid photo....

[freshwest]

3. That's much better than other pictures, thanks! LOL!