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Sam Stein @ Huffington PostDebt Ceiling Debate Comes Down To Iraq, Afghanistan DrawdownPosted: 7/25/11 05:47 PM ET
WASHINGTON -- In the end, the debt ceiling debate could come down to a simple accounting question. Should the money saved from drawing down the wars in Iraq and Afghanistan count as part of a deficit reduction package?
Senate Majority Leader Harry Reid (D-Nev.) has put together a proposal, designed to break through the congressional impasse, that counts $1 trillion in savings from the Overseas Contingency Operations (OCO) fund -- the veritable piggy bank for wars abroad. His logic is straightforward.
"It's legitimate savings," said Adam Jentleson, a spokesperson for Reid. It's true that the United States will be spending significantly less money on the wars in ten years than it is today. The Congressional Budget Office, which judges future expenditures against their current levels, will "score" the savings regardless, as an Obama administration official noted several weeks ago when the OCO issue first surfaced. Why not count them as part of the current plan?
More importantly, as Jentleson notes, when Republicans were putting together their latest plan for deficit reduction, they counted the OCO savings as well. Indeed, in his budget plan that passed the House earlier this year, Rep. Paul Ryan (R-Wis.) tallied an estimated $1.04 trillion in savings from the OCO based on Congressional Budget Office estimates. When his Republican colleagues, including Speaker John Boehner (R-Ohio) repeatedly touted the $5.8 trillion in savings that the Ryan plan achieved, they did not offer rhetorical footnotes about how a good chunk didn't count because it came from pre-existing policy.
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