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Fact Sheet: 100% of Spending Cuts in Reid Debt Reduction Plan Were Supported by GOP

Jul 25, ’11 5:40 PM
Author Categories Fact Sheets, News Tags , , ,
REID PLAN PAST REPUBLICAN SUPPORT
$1.2 Trillion in Discretionary Spending Cuts. The $1.2 trillion in discretionary spending cuts include both defense and non-defense spending.

Politico: Boehner’s Two-Step Plan Includes $1.2 Trillion in Discretionary Cuts. “The first debt limit increase of between $900 billion to $1 trillion would be accompanied by strict discretionary spending caps designed to achieve 10 year savings of $1.2 trillion from annual appropriations bills.” [Politico, 7/25/11]

According to Cantor Presentation, Biden Framework Cut Over $1.1 Trillion in Discretionary Spending. According to a presentation by Eric Cantor to the House GOP Caucus the Biden framework that Cantor had said he supported contained over $1.1 trillion in discretionary spending cuts. [Cantor’s Presentation to Caucus, 7/12/11]

NY Times: Cantor Presentation Drew From  $1.2 Trillion in Discretionary Cuts From Biden Group. “Mr. Cantor, Democratic officials said, presented a Republican proposal for a more modest agreement that drew heavily on earlier negotiations steered by Vice President Joseph R. Biden Jr. Those talks had led to proposals for nearly $1.2 trillion in federal agency cuts, with $300 billion more coming from programs like agriculture subsidies and federal pension programs.” [NYT, 7/12/11]
$70 Billion in Mandatory Savings. The package includes $70 billion in mandatory savings. 

  • $40 billion in Program Integrity Savings. We can save $40 billion by reducing fraud and abuse in mandatory programs. This includes: Continuing Disability Reviews and SSI redeterminations, Internal Revenue Service tax enforcement, Health care fraud and abuse control, and Unemployment Insurance improper payment reviews.
  • $15 Billion In Spectrum Sales
  • $10-$15 Billion In Agricultural Subsidies

Cantor Said Biden Group Discussed Cutting “Non Healthcare Mandatory Spending.” “Cantor said the group discussed cutting ‘non-health care’ mandatory spending by over $300 billion.”  [CNN, 7/6/11]

In Presentation to House Republican Caucus Cantor Identified Non Healthcare Mandatory Spending Cuts That Were on Table in Biden Talks.  Earlier this month, at a House Republican Caucus Meeting, Cantor made a presentation to House Republicans that indicated the status of the Biden negotiations as he saw them.  In his presentation Cantor cited as “other mandatories:”

  • “45B –Program Integrity Property Sales.”
  • “$20-25B — Spectrum/USF”
  • “$33B –Ag Subsidies/Conservation”

[Cantor’s Presentation to Caucus, 7/12/11]

$1 Trillion in Savings From Winding Down the Wars in Iraq and Afghanistan. Winding down the wars in Iraq and Afghanistan will save $1 trillion.

Almost Every Republican in the House and Senate Voted For Ryan Budget. In April, 235 GOP House members voted for the Ryan budget.  In May, 40 Senate Republicans voted for the same budget.  [Vote 277, 4/15/11; Vote 77, 5/25/11]

  • Ryan Budget Contained $1 Trillion in Savings From Winding Down Iraq and Afghanistan Operations. According to the Summary tables of Ryan’s budget proposal, his budget assumed over $1 trillion in savings due to reductions in spending on the global war on terrorism.  [Path to Prosperity, Summary Tables, 4/11/11]
  • Heritage Foundation Cited OCO Reductions As Part of “Substantial” Deficit Reductions.  “Critics claim that the House budget cuts just $1.7 trillion out of the 10-year deficit. As stated above, this measures the House budget against a baseline that already assumes $4 trillion in tax increases—which even President Obama largely opposes. Since the House budget is relatively revenue-neutral compared to current tax policies, the main deficit reduction consists of $5.8 trillion in spending reductions over the next decade. The savings include $1 trillion from phasing down overseas contingency operations…” [Heritage Foundation, 5/15/11]
  • Ryan Touted Deficit Reductions Figure That Included OCO Savings. Paul Ryan’s budget committee issued a key facts document touting the savings in his budget proposal that added up to $5.8 trillion.  This $5.8 trillion number included $1 trillion in savings from the phasing down of overseas contingency operations.  [House Budget Committee, Key Facts]
$400 Billion in Interest Savings. The package includes $400 billion in interest savings: $220 billion from the discretionary spending cuts and $180 billion from winding down the wars in Iraq and Afghanistan. Almost Every House Republican and Every Senate Republican Voted for ‘Cut Cap and Balance Act.’This month, 229 House Republicans voted for the Cut Cap and Balance Act.  Senate Republicans unanimously, with the exception of one absence, voted for the same Cut Cap and Balance Act.  [Vote 606, 7/19/11; Vote 116, 7/22/11 ] 

  • Cut Cap and Balance Contained $248 Billion in Interest Payment Cuts to Cut Cap and Balance’ Score. “Cut, Cap and Balance’s $5.8 trillion in spending cuts assumes a $248 billion drop in interest payments, says an RSC staff member.”  [Investor’s Business Daily, 7/21/11

Almost Every Republican in the House and Senate Voted For Ryan Budget. In April, 235 GOP House members voted for the Ryan budget.  In May, 40 Senate Republicans voted for the same budget.  [Vote 277, 4/15/11; Vote 77, 5/25/11]

  • Ryan Budget Proposal Counted Savings From Interest Payment Cuts. According to the summary tables of the “Path to Prosperity” budget put out by Paul Ryan, the GOP budget assumed $248 billion in savings from reduced interest payments.[Path to Prosperity, Summary Tables, 4/11/11]