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The American Enterprise Institute has put together this chart comparing the 3 budget proposals. See a larger version here – http://www.aei.org/files/2013/04/11/img-hassettnrochart041113large_180724163799.jpg.

Source – http://www.aei.org/article/economics/fiscal-policy/a-quick-guide-to-budget-proposals/

Forecasting budgets may be the only thing less accurate than weather forecasting. Freedomworks did a study a few years back on just how accurate CBO costs estimates are, at least concerning Obamacare – http://www.freedomworks.org/files/capitol_comment_CBO_scores_PDF_2.pdf.

Initially, it was projected by the CBO that the cost of Obamacare would be $848 billion. Now the revisions show a cost of $1.76 trillion – http://www.newsmax.com/Newsfront/Obamacare-costs-double-CBO/2012/03/14/id/432506.

This is not to highlight the incompetence of the CBO, only to illustrate that the CBO is a garbage in/garbage out organization that only be as accurate as the data it is given.

No doubt that the CBO estimates, particularly on outlays, will be woefully low. In the meantime, we can actually have some good old bickering between the left and right as to who has a more realistic proposal on the table. Sure is a nice distraction from reality in that none of these budget proposals will hit anywhere close to the mark.

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