No big mystery to Obama budget plan
Absence of Asterisks
Paul Krugman
Some readers ask why I'm not giving the Obama budget plan a grilling comparable to the one I'm giving to Romney. Well, I'm glad you asked that: it's because the Obama plan, whether you like it or not, doesn't have anything like Romney's reliance on magic asterisks.
What Obama proposes is for the most part a continuation of current tax and spending policy, except for a rise in taxes on the over-250K crowd and some relatively modest spending cuts relative to current policy. The CBO analysis of his proposals basically agrees with his numbers.
You can quarrel with the Obama projection, arguing that some assumptions are too optimistic, or alternatively that it doesn't bring down the deficit enough. But there's no big mystery about what he intends.
(More here.)
Some readers ask why I'm not giving the Obama budget plan a grilling comparable to the one I'm giving to Romney. Well, I'm glad you asked that: it's because the Obama plan, whether you like it or not, doesn't have anything like Romney's reliance on magic asterisks.
What Obama proposes is for the most part a continuation of current tax and spending policy, except for a rise in taxes on the over-250K crowd and some relatively modest spending cuts relative to current policy. The CBO analysis of his proposals basically agrees with his numbers.
You can quarrel with the Obama projection, arguing that some assumptions are too optimistic, or alternatively that it doesn't bring down the deficit enough. But there's no big mystery about what he intends.
(More here.)
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