By Dan Calabrese ——Bio and Archives--March 25, 2013
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The House plan ostensibly brings the government’s taxes and spending into balance by 2023 with cuts to domestic spending even below the automatic “sequestration” levels now roiling federal programs, and it orders significant changes to Medicare and the tax code. The Senate plan, in contrast, includes $100 billion in upfront infrastructure spending to stimulate the economy and calls for special fast-track rules to overhaul the tax code and raise $975 billion over 10 years through legislation that could not be filibustered. Even with that tax increase and prescribed spending cuts, the Senate plan would leave the government with a $566 billion deficit in 10 years, and $5.2 trillion in additional debt over that time.
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