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| Cato Institute: Debt Ceiling Resources Posted by Merlin Jetton on 7/29, 5:26am | ||
| Two Trillion Isn't Enough by Tad DeHaven describes House Speaker John Boehner's proposal as increasing the debt ceiling by $2 trillion and cutting spending by $2 trillion (over 10 years!). The article is dated July 15. Boehner’s most recent proposal would provide an immediate $900 billion debt-ceiling increase while cutting spending by $917 billion (over 10 years!). It would allow Obama to seek a second, $1.6 trillion installment of borrowing authority if Congress enacted a law by Christmas to reduce deficits by $1.8 trillion. Revenues, spending (outlays), and deficits projected by the Congressional Budget Office are here, page 2. Outlays are projected to increase about 4.44% per year on average between 2011 and 2021. | ||
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