Dec
15

Budgeting Math

Since the Super Committee failed $1.2 trillion in mandatory budgets cuts, starting in ’13 and running through ’21, will commence. But, the $1.2 trillion in cuts are actually only $984 billion! The law assumed that by not borrowing $984 billion, interest costs would fall by $216 billion and that counts as savings! Social Security and Medicaid are untouchable, as are the salaries and benefits of the President and members of Congress.

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