Program Cuts Far Exceed Revenue Increases Under Latest Obama Offer

December 19, 2012 at 5:03 pm

Earlier today, we pointed out that when tallying up the mix of spending cuts and tax increases in the latest deficit-reduction proposals, one should include the spending cuts that will take place over the coming decade under last year’s Budget Control Act.

This graph shows that when you count those savings, President Obama’s budget offer of December 17 would result in $1.9 trillion in program cuts over 2013-2022, compared to $1.3 trillion in new revenues.

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More About James Horney

James Horney

Jim Horney is the Vice President for Federal Fiscal Policy at the Center on Budget and Policy Priorities, where he specializes in federal budget issues.

Full bio | Blog Archive | Research archive at CBPP.org

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