There really isn’t much difference between President Barack Obama’s and House Speaker John Boehner’s respective plans to cut the deficit, when put into perspective.
This chart shows the projected federal government deficits — not including the adjustment for whatever plan is agreed — set out with the reported differences between Obama and Boehner, which appear to be over $350 billion in interest saved over a decade.
For example’s sake, that $350 billion was spread evenly across each year (in reality, it would be backloaded).
As you can see, those faint blue bars show the difference is not much. And remember, this chart doesn’t even factor in existing debt of over $16 trillion — only on the new debt that’s expected to accumulate.
– Steve Goldstein