I agree. My point however is it is total projection with no "fact" behind it. A total hypothetical. It is a formula with no numbers plugged in. The term in of itself is meaningless.
There are some real numbers though - especially on the spending cut site. The increase in tax revenue is estimated. Personally, I see stocks dropping drastically and a double-dip recession. It is like taking medicine - you know it will make you better but it tastes real bad at first.
As per how bad the recession will be - you are right, no one has actual figures. The CBO made some projections
I have never heard anyone say this will be good for the economy in the short run. Everyone I have heard say it will cause a recession. In fact, on the NBR they called it the first ever "planned" recession.