1. The passage of a congressional budget resolution is less important than you think. After the passage of the FY2018 congressoinal budget resolution in the House this week, there was some hyperbolic writing in the past few days about what passing a congressional budget resolution does. It doesn't ensure GOP majoritarian tax reform will happen. It doesn't cut trillions of dollars of federal spending. And it certainly doesn't require anyone to balance the budget. And this year it won't even cap discretionary spending in FY2018. Here's what a congressional budget resolution does do:
FIVE POINTS: Frosted Flakes of Scorn
FIVE POINTS: Frosted Flakes of Scorn
FIVE POINTS: Frosted Flakes of Scorn
1. The passage of a congressional budget resolution is less important than you think. After the passage of the FY2018 congressoinal budget resolution in the House this week, there was some hyperbolic writing in the past few days about what passing a congressional budget resolution does. It doesn't ensure GOP majoritarian tax reform will happen. It doesn't cut trillions of dollars of federal spending. And it certainly doesn't require anyone to balance the budget. And this year it won't even cap discretionary spending in FY2018. Here's what a congressional budget resolution does do: