The budget proposal put forth by Sen. Patty Murray (D., Wash.) does not have net deficit reduction in first year, according to testimony by Senate Budget Committee majority staff at a Budget Committee hearing Thursday.
SEN. MIKE CRAPO (R., IDAHO): In terms of the overall deficit reduction that is achieved, whether it's through the taxes or the spending reductions that are claimed in the budget, what percentage of those is achieved in the first year?
JOHN RIGHTER: Uh--
CRAPO: In other words, you're talking about a $1.85 trillion deficit reduction over ten, how much of that happens in year one?
RIGHTER: There are spending savings in year one, but in total, it's about no.
CRAPO: It's about what?
RIGHTER: It's about zero in the first year, in total, because there's spending savings and spending costs.
CRAPO: So I didn't understand you, it's zero in the first year?
RIGHTER: On net. On net, sir.