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Baseline Budgeting
About the most simple explanation I have ever read!
More Americans need to become familiar with the concept of baseline budgeting. In simple terms, if an agency's budget is $100, and they are expecting an increase of $10.00 next year, but they only get $8.00, politicians characterize that as a $2.00 cut in spending. Concerning the entire $1.2 trillion in 'cuts' engendered by the sequester, it must be understood that they are not really cuts at all. They are really a lowering of the projected increase in federal spending going forward. The CBO cuts through the fog. 'For the 2014-2023 period, deficits in CBO's baseline projections total $7.0 trillion. With such deficits, federal debt would remain above 73 percent of GDP -- far higher than the 39 percent average seen over the past four decades,' it reports. Thus, over the next decade, we are 'cutting' our way to adding another $7 trillion of debt to the $16-plus trillion we have already amassed. As far as the administration, Democrats and their media enablers are concerned, any attempt to mitigate that 'paying-for problem' will turn America into a Third World nation of vegetable eaters. Yet the simple truth remains inarguable: absent the genuine entitlement reform critically necessary to get our spending under control, we are headed for national bankruptcy. At that point, even vegetables may be a luxury item."
BMT
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Don't mess with old farts...age and treachery will always overcome youth and skill! Bullshit and brilliance only come with age and experience.
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