CBPP Analyzes House Budget Proposal

This analysis finds that the House Budget Committee’s budget plan is harsher than the Senate plan in several respects. The House plan would cut funding for domestic “discretionary” (or non-entitlement) programs by $8.8 billion in fiscal year 2007 and $169 billion over five years, relative to CBO’s current-services baseline. The plan also would reduce entitlement programs by $5.1 billion over five years. The savings from these program reductions would not, however, be used for deficit reduction. They would instead be used to offset a portion of the cost of the budget plan’s $228 billion in tax cuts, as well as its defense spending increases. The net result would be significant further increases in the deficit. The plan would increase the deficit over the next five years by $256 billion above what deficits would be if current policy was left unchanged.

http://www.cbpp.org/3-29-06bud.htm
http://www.cbpp.org/3-29-06bud.pdf, 7pp.

Ed:  Good going, Congress!  What’s another few trillion in debt to leave our children?