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CBO Report: Avoiding the Fiscal Cliff Costs Over $1 Trillion

Fred1666 Wrote: Nov 15, 2012 7:57 AM
Bush's biggest spending boondoggles were bipartisan and many conservatives have complained that he never vetoed a spending bill.
The Congressional Budget Office released their analysis of the group of deficit-fighting policies known as the "fiscal cliff." The big takeaway: completely averting the contraction that would occur in 2013 and 2014 would cost $1.16 trillion - entirely deficit-financed.

There would certainly be some economic benefits to all of this, however. The CBO has a wide range of estimates for the positives - between 0.8% and 5% growth in real GDP, and between 1.1 million and 5.8 million new jobs. There are a lot of caveats here, as it's an incredibly wide range of estimates, but there would...