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...
If congress doesn't do something soon people are going to see that the cliff is the best budget passed by congress since the 80's.
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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