The House Budget Committee Republicans have put out this graph purporting to predict government spending as a percentage of GDP for the next 50 or so years. Unsurprisingly, they presume that spending will skyrocket under Democratic budgets as designed by Democratic presidents and congressional leaders who haven’t been elected yet, but that spending will decrease under Republican governance.
This level of detail is remarkable, given that Ryan himself seems to have been unable to say how big near term deficits would be under his plan just two days ago. (Incidentally, Ryan’s budget, which we’ve obtained pegs the 2010 deficit at just under $1 trillion.)
Interestingly, now that the Republican plan has been made into legislation, it can be analyzed by the CBO, so we’ll see what they have to say about it. We’ve just gotten a hold of the GOP’s Budget resolution (i.e. the Ryan substitute) and some supplemental information and we’ll provide links to PDFs shortly.
Late update: I swapped out the original graph for one that contains a separate “projection” (read arbitrarily drawn line) based on the GOP alternative.
