Don’t believe the hype — the CBO’s finding that the Senate bill will reduce the deficit is no reason for fiscal conservatives to celebrate. As James Capretta describes here, the bill has spending cuts that will never materialize and massive tax hikes to the tune of $500 billion in the first 10 years and trillions more after that. It other words, this is a massive increase in the size of government to the tune of nearly about $5 trillion.
