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  • ilap2004 ilap2004 Dec 18, 2012 1:54 PM Flag

    Fiscal Cliff negotiations


    The $800 billion from the $200/$250k income level tax increase over TEN years is like two thirds of THIS YEAR'S budget deficit. You divide that by 10 (probably should divide by more than 10 for this year's budget impact since there must be some inflation built into the 10 year estimate) and you get at most a 7% reduction in this year's deficit. That's if our nutjob President doesn't get another $80 billion in stimulus, for things like Obamaphones that he wants, at which point we are down roughly to nothing in deficit reduction.

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