Peterson Foundation certifies spending cuts alone can balance budget

No one expects any grand agreement to come out of the Peter G. Peterson Foundation Fiscal Summit today, but at least it should forever put to rest the liberal myth that the budget can’t be balanced with out raising taxes.

Six think tanks submitted long-term budget plans to Peterson and they were all scored by Barry Anderson, former Acting Director of the Congressional Budget Office (CBO) and Eric Toder and Jim Nunns of the Tax Policy Center. Not all of the organizations used the same economic and budgeting models, but the scorekeepers did ensure that the think tanks budget claims were “fair and objective.” The Peterson Foundation stresses that they do not endorse any of the plans.