The BPC's Steve Bell: SAVEGO would leave legislative changes to Congress
The Hill
April 21, 2011
"SAVEGO is silent on what option(s) Congress will choose. It says that a certain number (pretend $8 trillion) has to be cut from the 10-year deficit/debt projections of CBO and that the individual committees of Congress can/must make the decision on whether to take savings all from spending, from closing tax loopholes, increasing revenues explicitly, et al," [Bell] said in an email. "In short, SAVEGO leaves the composition of legislative changes to the folks who have that authority—Congress."
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Based on the housing industry’s average share of Gross Domestic Product (GDP) from 1980 to 2007, the infographic illustrates that 2.3 percent or $350 billion is “missing” in potential growth.
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