Ryan-Murray Budget Raises National Debt Above Current Law For 9 Years
On Thursday, the House will vote on the Ryan-Murray budget deal, which hikes federal spending, raises user fees and promises spending cuts a decade from now. Supporters of the deal claim that, over 10 years, it will reduce the deficit by around $20 billion. That is unlikely to happen, as it requires significant budget cuts 9 years from now. Worse, though, the Ryan-Murray deal increases the national debt far more than it would be under current law.
Breitbart News has created the following chart, detailing the increase in the debt resulting from the Ryan-Murray budget deal. This is not the yearly increase in the national debt, which sadly is much higher. This is simply the increase in the debt attributable solely to the Ryan-Murray budget. It details the increase over and above current budget law. Breitbart News has confirmed these numbers with several Senate offices.
For 9 years, the national debt will be higher than it otherwise would. In the 10th year, the Ryan-Murray budget claims a $12 billion reduction in the debt, but that is based on a myth and some budget tricks. The tricks are a little complicated to explain, but they are also pointless. A future Congress and President is not going to abide by the cuts suggested a decade earlier.
As I've noted, there are short-term political reasons to support the Ryan-Murray budget. There are no sound fiscal reasons, however. The deal will increase the national debt over and above what it would be if we kept current law in place. We will have higher interest payments on our debt than we otherwise would, something Ryan-Murray ignores. We will make are fiscal challenge even more daunting.