Also in this playlist...
This transcript is automatically generated
In math math is at center of our next story Democrats are claiming they have already voted to take a trillion dollar -- Out of the budget deficit through spending cuts tonight correspondent -- Kelly tells us whether that claim really adds up.
We're still waiting for the White House to identify what spending cuts the president is willing to make.
Yet again today Republicans asked where is the Democrats into the bargain.
They've accused Democrats of ignoring this spending -- side of negotiations.
An accusation Democrats reject -- son in law trillion dollars in.
Discretionary spending cuts we've got to cut spending we don't -- building on the trillion dollars spending cuts regarding made.
The Democrats and over voted for over two million dollars.
And cuts in spending.
But all those cuts real this CBO letter to speaker Boehner from July of Tony eleven.
Confirms that Democrats agreed to reduce the budget deficit by 915.
Billion dollars between 2012 and 20/20 one.
As a part of the budget control act of -- eleven.
But there's a very big catch the reductions were quote relative to baseline projections.
Baseline projections or baseline budgeting is what critics call Washington accounting gimmick.
Baseline budgeting raises spending every year by factoring in inflation and population increases.
They pretended to cut spending using the Washington definition meaning that spending doesn't rise as fast as as it was going -- They also had a tremendously dishonest gimmick where they claim that trillion dollars of savings -- -- For not fighting two wars and -- Iraq and Afghanistan for another ten year.
Conservative columnist George will wrote that those alleged savings from not fighting future wars as quote like cutting 800 billion by deciding not to build a ski resort on Mars.
Further there is dispute over whether those nearly trillion dollars in cuts agreed to last year are actually taking place.
There are two different conversations.
Going on about these numbers what is about the cuts that are already embedded in law.
Which is evidently what Nancy Pelosi was talking about and they are absolutely embedded in law and there's no question about them.
The problem with that is that congress has done nothing to put legislation in place to cut spending.
To meet those caps.
And that's one of the reasons that we're now in the fiscal cliff.
Baseline budgeting has been used by both parties since 1974.
That allows Republicans to exaggerate their claims of frugality it allows Democrats to expand the growth of government.
By the way it's an accounting -- that no family trying to balance it's checkbook could ever get away with Brett.
Doug thank you.
Filter by section