But according to GOP deficit projections … the true size of the problem is staggering, and surprised even many of the seasoned budget negotiators involved.
$4 trillion? Try $106 trillion, the medium estimate. That’s $106,954,000,000,000. Even the lowest, extremely conservative estimate comes in at $72 trillion; the highest is over $120 trillion.
The amounts are so large that some controversial reforms appear inconsequential in comparison. Take Obama’s “chained CPI” proposal: it would save an estimated $89 billion over ten years, or 1.3 percent of the total deficit over those same ten years…
The Senate GOP’s projections are based on CBO’s cost projections and generally conservative.
Read more from this story HERE.