In the coming weeks and months, you will hear endless wailing about the extreme, Draconian cuts that House Republicans are calling for. Dan Mitchell of the Cato Institute puts those “cuts” into perspective with this chart, which compares spending under President Obama’s FY 2012 budget with the plan that Paul Ryan unveiled today:
So, does Ryan’s proposal call for deep spending cuts? In Washington-speak, sure. But the fact is that his proposal contemplates continued growth in federal spending, averaging 2.8 percent over the next ten years.
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