CBO Estimates "Obama Tax Cut" To Add $4 Trillion To Deficit Over Next DecadeSubmitted by emalvini on Wed, 01/02/2013 - 10:02
CBO Estimates "Obama Tax Cut" To Add $4 Trillion To Deficit Over Next Decade
Submitted by Tyler Durden on 01/01/2013 14:09 -0500
First - it is no longer the "Bush (temporary) tax cut" - it is now the "Obama (permanent) tax cut", with a loophole for the 1%ers (whose big picture "impact" we showed previously)
Second - according to the just released scoring by the CBO, the total impact on the US budget deficit of said permanent tax cuts, will be a $4 trillion increase in the deficit over the next decade. In reality, due to the CBO's perpetual optimistic bias, this number will likely be orders of magnitude lower than what it actually ends up being.