Deficit Reduction Proposals: House Republicans v. President Obama

Published by Michael Novogradac on Wednesday, May 4, 2011 - 12:00am

The following is a draft of a chart that compares the House Republicans deficit reduction plan to President Obama’s plan. Between those two bookends are some preliminary numbers that Senator Conrad’s plan might have.

Blog Chart Deficit Reduction Proposals (Summary as of 5/3)
Click to Enlarge

As you can see above, House Republicans would achieve $4.7 trillion in deficit reduction over 10 years, and President Obama achieves $4 trillion over 12 years.  Senator Conrad is rumored to achieve a middle ground of $4 trillion over ten years.

On the noninterest, spending side, House Republicans cut $5.2 trillion vs. $2 trillion by President Obama.

On the tax side, House Republicans lower taxes by about $1.5 trillion, vs. an increase in taxes of $1 trillion by President Obama.

We are awaiting details from Senator Conrad’s possible plan.  We also look forward to seeing if the Gang of Six will release a plan.

Stay tuned . . . . .