[S]ince the election, Republican leaders have been busy “clarifying” that promise. It now seems that they didn’t actually mean that they would roll back all federal spending to 2008 levels, just domestic, discretionary spending. Entitlement programs such as Social Security and Medicare are off the table, as is defense spending. Homeland security and veterans’ programs would also be spared any cuts. Removing those categories, along with interest on the debt, exempts 83 percent of the budget from any serious cuts. Rolling back the remaining spending to 2008 levels would save barely $100 billion, 2.8 percent of federal spending. That’s a drop in the bucket compared with our $1.3 trillion deficit.
Eric Cantor released this memo (to congressional repubs), which is amazingly both factual AND wrong:Fast Fact: Over two-thirds of Republican voters believe the budget can be balanced without reducing spending on Social Security or Medicare.Which means that republican voters are totally misinformed by their equally deluded party leaders. And of course, if they cut taxes, as they're wont to do, that will INCREASE the deficit even more.
GOP: Fiscal Frauds
posted at 11/18/2010 1:11 PM ESTOn seriously cutting spending. From the Cato Institute's Michael Tanner: