Nonsequitur: The Senate Has a Budget (Finally)

March 13, 2013

Well, sort of.  It definitely sets out goals for taxing, cutting spending and “investing” (spending).  But it lacks the specificity of Ryan’s budgets.  As Ezra Klein describes it:

About all we really know of this budget is the top lines: It plans $975 billion in tax increases, though it doesn’t say precisely how it will get there, and it plans $975 billion in spending cuts, though it doesn’t say precisely where they will come from.

The Senate budget plan also includes about $100 billion in new stimulus spending.  However, it also “cuts off” the last 9 years of the sequester, off setting with the unidentified tax increases and spending cuts.  According to Erik Wasson, “… once the sequester cuts are turned off, Murray’s budget appears to reduce deficits by about $800 billion, using the Congressional Budget Office’s  baseline.”   (Ryan’s budget would reduce spending by about $5.7 trillion over the same period.)

But it is a budget plan, after 3 years of no budget, and a starting point for budget negotiations.

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