CBO: Budget deal cuts this fiscal year’s deficit by just $353 million, not $38 billion touted

The CBO study confirms that the measure trims $38 billion in new spending authority, but many of the cuts come in slow-spending accounts like water-and-sewer grants that don’t have an immediate deficit impact.

A separate CBO analysis provided to lawmakers but not released publicly says that $5.7 billion in savings claimed by cutting bonuses to states enrolling more children and reducing the amount of money available to subsidize health care cooperatives authorized under the new health care law won’t produce a dime of actual savings. CBO believes they are simply cuts to spending authority that is unlikely to be used anyway.

HERE

 

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