Posts Tagged ‘Super committee’
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…
Read MoreStupor Committee
With barely a week before the deficit reduction panel must make its recommendations to Congress, and with little hope of success, bank on the goalposts being moved! If the Panel totally fails, expect Congress to pass a law canceling the $600 billion cuts in both defense and social programs. And, if the Panel passes something…
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