Archive for the ‘Deficits, Debt and Taxes’ Category

Rep. Ryan: It’s Only a Cut When I Say It’s a Cut!

April 10th, 2014

One of DC’s sillier arguments–a very competitive category–is the claim that you’re not really cutting a program when you reduce its growth rate. Apparently, Congressman Ryan was unhappy with a new CBPP post pointing out that most–69%–of his budget cuts come from programs that serve low or moderate income people.  As CBPP’s Bob Greenstein points out:… Read more

Budget Linguistics

April 7th, 2014

A few months ago I was in a restaurant and noticed a mistake on the check.  “I’m sorry,” the waiter said, suggesting there was nothing he could do about the overcharge.  “That’s how it’s in the computer.” I was recently reminded of that incident when I testified at a budget hearing in the House, particularly… Read more

If We’re Going to Take Budget Forecasts Seriously, Then This is a Good Way To Present Them

March 15th, 2014

The figure below, from one of the administration’s recent budget reports, provides a range of uncertainty around their central forecast of the deficit as a share of GDP.  Using the errors from past forecast, we can get a rough sense of the confidence interval around our current estimates. By 2019, the deficit has a 90%… Read more