The treasury's argument is fatally flawed. "The baseline in which discretionary spending grows with nominal GDP is substantially higher because CBO assumes tha

The treasury's argument is fatally flawed. "The baseline in which discretionary spending grows with nominal GDP is substantially higher because CBO assumes that nominal GDP grows by just under 5 percent a year on average, while inflation is around 2.5 percent a year on average." GDP is not growing by nearly 5 percent a year and should not be projected to grow at that pace. Real GDP growth is significantly smaller. Additionally, with our monetary policy (QE 1,2,..,x), inflation is higher than 2.5%. The treasury's math is fictitious.