The Congressional Budget Office has released its separate reports on the Boehner and Reid plans to raise the debt ceiling and cut the federal deficit. Here’s how the two plans match up.How much would caps on non-military discretionary spending reduce the deficit?
Reid: $24 billion in 2012, $751 billion 2012-2021
Boehner: $5 billion in 2012, $710 billion 2012-2021
How much would caps on military discretionary spending reduce the deficit?
Reid: $12 billion in 2012, $1,044 billion 2012-2021
Boehner: No caps on military spending.
How much would expanded authority for the Federal Communications Commission to sell broadcast licenses reduce the deficit?
Reid: $2 billion in 2012, $11 billion 2012-2021
Boehner: No expanded FCC authority.
How much would reduced farm subsidies reduce the the deficit?
Reid: $5 billion in 2012, $41 billion 2012-2021
Boehner: No reductions in farm subsidies.
What would be the overall effect on the deficit of each plan?*
Reid: $2.2 trillion by 2021
Boehner: $850 billion by 2021
*The Reid plan accounts for expected savings as the wars in Iraq and Afghanistan wind down over the next decade. Boehner did not ask the CBO to include such expected savings. If the plans had been scored in the same way, the difference between the Reid and Boehner plans would amount to less than $400 billion.
Republicans have said that Boehner’s team is revising his proposal after what it considered a disappointing report from the CBO.
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