The Center on Budget and Policy Priorities nails the phase-in scam I wrote about before, which was described by a “senior administration official” in a briefing today:

The senior official said the borrowing costs over the first ten years — 2006- 2015 — would be $664 billion without interest costs, and $754 billion when interest costs on the debt are included.

These figures are misleadingly low.  They are generated by using a ten-year budget window (2006- 2015) that includes only five years of the fully phased-in plan.  The plan would not be launched until 2009 and not be in full effect until 2011.

Over the first ten years that the plan actually was in effect (2009-18), it would add more than $1 trillion to the debt.  Over the next ten years (2019- 28), it would add over $3.5 trillion more to the debt.  All told, the plan would add more than $4.5 trillion to the debt over its first 20 years.