Erskine Bowles co-chaired Obama’s deficit commission, and was chief of staff to President Clinton. And he’s also a racist, apparently — otherwise, why is he outing Obama’s “framework” for the lack of a plan that it is?
BOWLES: It is $4 trillion, however, over 12 years. It is heavily back-end loaded, so when you compare it to the Ryan plan and to the Commission’s plan, which also has $4 trillion in savings, it is probably more like $2.5 trillion. And in fairness, the way it is setup, according to our analysis, it really doesn’t stabilize the debt, and the debt as a percentage of GDP gets up to around 77 percent and it never gets to primary balance, which is about a deficit-to-GDP ratio of around 3 percent.
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