First, the total cost of these policies, in billions of dollars. As it's easy to see, the extension of the Bush tax cuts do the most damage on the revenue ledger of the federal government. Total extension costs $750 billion over two years, while the Democrats' favored policy of extending all but the top rates costs $670 billion. The other major tax provision - an...
Media will not hold Obama responsible for any of this. Will defend him as trying to do his best after failure of Republicans - no matter how long ago. Bush will ALWAYS be to blame. Media exists to prop up Obama - no matter how dismal, or obvious the failure.
As an accompaniment to the earlier report on the Congressional Budget Office's analysis of the fiscal cliff, here are some charts to help visualize what kind of effect that the policies under discussion will have.
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