by J.D. Foster
The Heritage Foundation
March 26, 2012
Backgrounder
The President’s budget perpetuates a misleading portrayal of the true magnitude of federal spending. This is most clearly evident in the figures for Medicare spending, which the Office of Management and Budget reports as $480 billion for 2011—$80 billion less than the figure reported by the Congressional Budget Office. The Office of Management and Budget understates Medicare spending by reporting outlays net of offsetting receipts, instead of using a similar method as the Congressional Budget Office in presenting a full picture of all spending and all receipts. The Obama Administration should break with tradition by clearly showing all spending and receipts in its budget so the American people can properly gauge the width and breadth of government policy and the consequences of upcoming reforms.
No comments:
Post a Comment