New Democrat Budget Repeats President Obama’s Fuzzy Deficit Math
The House Democrats’ budget may not be released until tomorrow; however, it didn’t take us long to spot at least one glaring problem in the plan. Rep. Chris Van Hollen repeated the debunked “primary balance” myth perpetuated by President Obama in his widely panned FY2012 budget.
Rep. Chris Van Hollen Claimed The House Democrats’ Budget Achieves Primary Balance One Year After President Obama’s FY2012 Budget. “According to Van Hollen, the House Democratic budget would bring the federal government to primary balance by 2018 — a year after President Obama’s budget, released in February, and three years after the Ryan budget would reach that point.” (Bernie Becker, “Van Hollen: House Democratic Budget Coming Wednesday,” The Hill’s “On The Money” Blog, 4/12/11)
But, according to the nonpartisan Congressional Budget Office, President Obama’s budget never reaches primary balance and results in a “dangerously high” level of debt.