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Thursday, October 9, 2014

The repugicans Eye Forcing CBO To Use Special repugican cabal Math To Justify Tax Cuts

Top repugicans, eying full control of Congress next year, are considering changing the rules of the budget process so as to make tax cuts appear less harmful to the deficit.
They want to adopt a method called "dynamic scoring," popular among wingnuts since the 1970s, which scores budgets under the controversial assumption that tax cuts generate economic growth and make up for lost revenue - something critics have likened to "fairy dust." The nonpartisan Congressional Budget Office, the official scorekeeper, does not use the method, but repugicans want it to.
House Budget Committee Chair Paul Ryan (r-WI), who expects to chair the tax-writing Ways & Means Committee next year, floated the idea of requiring CBO to use dynamic scoring at a Financial Services Roundtable speech on Sept. 18. Likely next Majority Leader if repugicans can steal the Senate, Mitch McConnell (r-KY) championed the method in a 2013 interview with the National Review. Outside proponents of supply-side economics, such as the Wall Street Journal editorial board, also like the idea.

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