8:32 AM, Apr 14, 2011 • By JOHN MCCORMACK
Some conservatives were taken aback by the AP's report yesterday that the continuing resolution (CR) that cuts $38 billion will only reduce this fiscal year's deficit--i.e. reduce total outlays through September 30--by $352 million.
Is the CR a sham? Nope, not really.
Politico's veteran congressional reporter David Rogers explains at the end of this story that the reduction in outlays through the next five months was always going to be significantly less than the total level of cuts in budget authority.
H.R. 1, the original House GOP budget that was supported by Tea Parters and was passed in February, had a cuts-to-outlay reduction ratio of 4 to 1 for non-defense spending. The ratio for the CR agreed to by Boehner, Reid, and Obama is 5 to 1. The CR reduces outlays by $8.2 billion on non-defense spending through the end of the September.
As Rogers writes:
This is all a little confusing, but the bottom line is that the conservative angst over the CR seems to be much ado about little.