Mr Khan said:
I thought they had at least some specific cuts up there, one i recall being closing down a loophole for double coverage under Medicare's Prescription Drug program |
From what I've seen, the vast majority of the 3/4 Trillion in "Cuts" are just dishonest accounting ...
Effectively, if you project economic growth at 5% per year with interest rates remaining at close to 0% and make "cuts" that project growth in government to 3% per year then you "cuts" over a 10 year period represent trillions in "savings". Unfortunately, these projections are unrealistically optimistic and even with these "Cuts" economic growth may be closer to 2% or 3% per year, interest rates will likely increase dramatically, and the growth in government will not be contained, which will result in a skyrocketing deficit and debt load.