Most Deficit Savings Have Come from Program Cuts

April 9, 2013 at 10:04 am

Tomorrow’s release of President Obama’s budget will bring new attention to the debate over how to reduce deficits.  A key sticking point in that debate has been Republican leaders’ opposition to any new revenues on top of those in January’s American Taxpayer Relief Act.

With that in mind, here’s a fact worth remembering:  some 70 percent of the $2.3 trillion in policy savings that the President and Congress have enacted over the past few years — which will produce $2.75 trillion in total deficit reduction when interest savings are included — have come through program cuts rather than revenue increases (see graph).

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More About Richard Kogan

Richard Kogan

Richard Kogan rejoined the Center in May 2011 after having served as a Senior Adviser at the Office of Management and Budget since January 2009. During his second tour at the Center, from 2001 to 2009, he served as a Senior Fellow specializing in federal budget issues, including aggregate spending, revenues, surpluses and deficits, and debt. Kogan is also an expert in the congressional and executive budget processes and budget accounting concepts.

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1 Comments Add Yours ↓

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  1. 1

    very nice blog….and explaining with chart, it is ablsolutly fine.

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