Obama’s Budget Reduces Deficits More Then The GOP’s “Pledge” Budget
Ezra Klein has a chart that shows that we do better with President Obama’s budget than the one presented in the “Pledge to America.”
Here’s how it was done.
The “Pledge to America” budget would mean $11.1 trillion in deficits over the next 10 years. By 2020, the federal budget deficit would be 6.3 percent of gross domestic product, the federal debt would exceed 93 percent of GDP, and interest payments on the debt would be more than $1 trillion a year. The budget deficit would be about $200 billion larger in 2020 under the “Pledge to America” plan than it would be under President Barack Obama’s budget, and over the next 10 years deficits would be $1.5 trillion higher than under the president’s budget.Click here for reuse options!
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