March 25, 2013

A Closer Look at Senate and House Budget Proposals

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The Senate Democratic and House Republican budget proposals are scheduled for consideration; the former drafted by Senate Budget Committee Chair Patty Murray, and the latter by House Budget Committee Chair Paul Ryan. The following charts compare and contrast key aspects of the Ryan and Murray plans. The charts use data from the Senate Democratic and House Republican FY 2014 budgets and the Congressional Budget Office’s most recent Budget and Economic Outlook.

The two budget plans offer different fiscal visions for our future, at least on paper. So how can one properly assess whether a budget plan is good or not?  

Any budget plan must satisfy three core principles. First, a good plan actually does cut spending; second, it puts everything on the table; and third, it addresses our debt problem. Mercatus Center senior research fellow Veronique de Rugy further expands on this three-part budget test in the Washington Examiner.