The Washington Post proclaimed editorially on March 21, “There is no credible path to deficit reduction without a combination off spending cuts and revenue increases.” They insisted that this “is the fundamental failure of the budget blueprint released Tuesday by House Budget Committee Chairman Paul Ryan.”
But this criticism is factually wrong as a matter of simple mathematics. Under CBO’s score of the Ryan budget, federal revenues virtually double over the next 10 years from $2.444 trillion today to $4.601 trillion by 2022. That is one whopping revenue increase, roughly $2.2 trillion, which is more than the entire GDP of almost every other country in the world.
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