Larry Kudlow explains that year-over-year the federal budget only goes up.
Think of it this way: You're out car shopping and thinking about buying a $100,000 Mercedes. That's your target. But then you decide to forego the Mercedes and opt for a $20,000 Chevy instead. Well, guess what? Congress would score that as an $80,000 budget cut. Huh? We all know that it's actually a $20,000 budget increase.
Let's be honest here. This budgetary game remains one big taxpayer scam. Look, I used to work in the federal budget office. I know the game.
Here's yet another scam: Big budget deals say they "cut" (there's that word again) a couple of trillion dollars over ten years. But most of it is targeted for the last couple of years, as in years eight, nine, and ten. So basically it'll never happen. It's four or five Congresses from now. Laws change. Deals are broken.
I, for one, was surprised to see that the rate of growth in the out-years of Ryan's budget was exactly the same as the rate of growth in Obama's budget.