Originally the deal between The White House and Congressional Republicans was touted for delivering $38 billion in cost savings.
Then, yesterday’s analysis showed that the savings were probably just half that, since a lot of the savings came from not spending money that was never going to be spent.
Turns out, the spending cuts are even more minimal than that.
According to the CBO, via National Journal, the total savings come to a whopping… $352 million. With an M:
A comparison prepared by the CBO shows that the omnibus spending bill, advertised as containing some $38.5 billion in cuts, will only reduce federal outlays by $352 million below 2010 spending rates. The nonpartisan budget agency also projects that total outlays are actually some $3.3 billion more than in 2010, if emergency spending is included in the total.Read Full Article