The House Democratic leader, Rep. Steny H. Hoyer of Maryland, said that the nonpartisan Congressional Budget Office had determined that the package of legislation would produce "the largest deficit reduction of any bill we have adopted in Congress since 1993," when it passed President Clinton's budget proposal including substantial tax increases.
In the first ten years, the legislation would reduce deficits by $130 billion, Rep. James E. Clyburn of South Carolina, the House majority whip, said after a meeting of the party's caucus. The effect on deficits over the following decade would be much greater, a total of $1.2 trillion, he said.
Of course Republicans, who take the high road in public and low road in private on deficits, once again respond with a NO according to the Hill's Blog Briefing Room:
"The American people know we're broke," Boehner told reporters at the Capitol. The last thing we need to do is add debt to our kids and grandkids."To imediately state that a bill "adds debt to our kids and grandkids" in the face of a CBO report that actually says the direct opposite demonstrates how disingenuous the right is willing to be in their effort to willfully mislead.