Earlier this week, a White House commission revealed a plan to reduce the federal budget deficit by hundreds of billions of dollars a year, or $3.8 trillion over the next 10 years.
We're all for cutting the size and cost of the federal government , but it's important to realize the projected annual deficits over the same period total $7.7 trillion... meaning the government will still be adding another $4 trillion to the $13.7 trillion and growing federal debt.
It's also important to note that while 75% of the savings come from cuts to Social Security, Medicare, and defense spending, 25% comes from increased taxes... most of which are expected to target the middle class.
Naturally, the plan has drawn criticism from both liberals and conservatives... and highlights just how unlikely it is any meaningful reductions to the deficit will be passed.
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More from Washington:
Gov't budget expert reveals U.S. debt far worse than Greece
Obama shocker: White House now in talks of reducing taxes
Gov't OUTRAGE: Fannie and Freddie to were paid to "manage" the Wall Street bailout
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