CBO director: Short-term budget fix better than nothing

The CBO released a report Wednesday afternoon detailing the budgetary effects of more than 100 options that would decrease spending or increase revenue. While the report does not evaluate which would be best, it does lay out the consequences of each option, including how much it would save the government over the next 10 years.

Options range from Social Security reforms to increasing taxes on cigarettes to canceling the Navy’s plans to acquire more ballistic-missile submarines. Some that would save the most include reducing the size of the military, which would save $495 billion, and imposing a $25 tax per metric ton on greenhouse gases, which would save more than $1 trillion over 10 years.

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