James Pethokoukis
Politics and policy from inside Washington
How bad was Obama 2012 budget 1.0?
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It was this bad. (Note that this Goldman Sachs chart also shows that Obama’s budget would have resulted in the pulling of the automatic tax hike/debt cut trigger suggested in his new budget speech/plan). The WH plan is OMB FY 2012 Budget:
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That graph is incorrect. Under the CBO baseline, debt held by the public will reach 67% of GDP by 2021. Under Ryan’s plan it reaches 70% of GDP by 2021. Check the CBO’s assessment of Ryan’s plan.