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Most Deficit Savings Have Come from Program Cuts

April 9, 2013 at 10:04 AM

Tomorrow's release of President Obama's budget will bring new attention to the debate over how to reduce deficits. A key sticking point in that debate has been Republican leaders' opposition to any new revenues on top of those in January's American Taxpayer Relief Act.

With that in mind, here's a fact worth remembering: some 70 percent of the $2.3 trillion in policy savings that the President and Congress have enacted over the past few years -- which will produce $2.75 trillion in total deficit reduction when interest savings are included -- have come through program cuts rather than revenue increases (see graph).

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