Thursday, April 14, 2011

GOP Budget Deal - #2813 - CBO: Last Week's $38B Budget Deal Only Reduces This Years Deficit by $352 Million, Update: GOP Leaders Lobbying for Votes (2) VIDEO: Paul Ryan Blasts Obama's 'Excessively Partisan' and 'Inaccurate' Budget Speech - The Blaze (3) Gallup: Obama's Approval Drops Below 50 Percent Among Poorest Americans; No Longer Enjoys Majority Approval in Any Income Class - CNS News (4) Do These Numbers Show the Budget Deal Was a 'Gigantic Fraud?' - The Blaze

Tomorrow’s House vote is going to be epic, my friends. Epic. The Congressional Budget Office estimate shows that compared with current spending rates the spending bill due for a House vote Thursday would pare just $352 million from the deficit through Sept. 30. About $8 billion in cuts to domestic programs and foreign aid are offset by nearly equal increases in defense spending… A separate CBO analysis provided to lawmakers but not released publicly says that $5.7 billion in savings claimed by cutting bonuses to states enrolling more children and reducing the amount of money available to subsidize health care cooperatives authorized under the new health care law won’t produce a dime of actual savings. CBO believes they are simply cuts to spending authority that is unlikely to be used anyway......Update: NRO reports that Boehner, Cantor, and Kevin McCarthy were still busy making the pitch as of this morning. Freshman Tim Huelskamp, noting that $352 million is less than $2 per U.S. citizen, is unpersuaded:  In the last two hours, the country has borrowed about $352 million, so we’re making no progress in getting out of the red,” Huelskamp said. “The American people are looking for meaningful reductions that actually will make a difference to our $1.6 trillion deficit and our $14.3 trillion of debt.”  Read more........


Paul Ryan Blasts Obama's 'Excessively Partisan' and 'Inaccurate' Budget Speech - The Blaze - Wisconsin Rep. Paul Ryan blasted President Obama’s budget speech for being “inaccurate,“ ”partisan,“ and ”inadequate.” The Blaze live-blogged the president’s speech, which included a call to raise taxes, here.  “Exploiting people’s emotions of fear, envy, and anxiety, is not hope–it’s not change. It’s partisanship. We don’t need partisanship. We don’t need demagoguery. We need solutions”  Ryan also said, “What we heard today was not fiscal leadership from our commander in chief. What we heard today was a political broadside from our campaigner-in-chief.”  “Rather than building bridges, he’s poisoning wells,” the Wisconsin congressman said.


Gallup: Obama's Approval Drops Below 50 Percent Among Poorest Americans; No Longer Enjoys Majority Approval in Any Income Class - CNS News -  President Barack Obama’s approval among the poorest Americans dropped to an all-time low of 48 percent last week, according to the Gallup poll, leaving the president with less-than-majority approval among all income brackets reported in Gallup's presidential approval surveys.  Each week, Gallup publishes the president’s average approval rating for the previous week among four income brackets: those who earn $2,000 per month or less, those who earn between $2,000 and $4,999 per month, those who earn between $5,000 and $7,499 per month, and those who earn $7,500 per month or more. For the week of April 4-10, Obama’s approval rating was 48 percent among those making $2,000 or less per month, and 46 percent among those in each of the three higher income brackets.  Read more.......

Do These Numbers Show the Budget Deal was a 'Gigantic Fraud?' - The Blaze - Mark Levin has already called the budget deal an “historic scam.” Now, respected website Business Insider and its number cruncher Joe Weisenthal have dubbed it a “gigantic fraud,“ while conservative cornerstone National Review calls it a ”fake.” And when you see the numbers, you might agree.  Weisenthal had a look at the analysis put out by National Journal (via the CBO) that says the total savings from the new deal (possible pun) are nowhere near the touted $38 billion. That number is only reached by numbers gimmicks. Rather, the number is closer to $352 million. NJ explains:  A comparison prepared by the CBO shows that the omnibus spending bill, advertised as containing some $38.5 billion in cuts, will only reduce federal outlays by $352 million below 2010 spending rates. The nonpartisan budget agency also projects that total outlays are actually some $3.3 billion more than in 2010, if emergency spending is included in the total.  Read more........

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