General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCBO scores the American Taxpayer Relief Act of 2012 (aka Senate cliff bill) (.pdf)
http://www.cbo.gov/sites/default/files/cbofiles/attachments/American%20Taxpayer%20Relief%20Act.pdfNet Changes in Deficits (2013-2022): $ 3,971,177,000,000.
Keefer
(713 posts)UP!
awake
(3,226 posts)awake
(3,226 posts)blueclown
(1,869 posts)Which already had the Bush tax cuts expiring. So all calculations of revenues decreasing are based on a baseline that had revenues increasing from the last fiscal year.
frazzled
(18,402 posts)it will increase the deficit by 3.9 trillion more than it would have otherwise. That's kind of an abstract number for most of us. And we already knew that the preponderance of those cuts were not going to be allowed to lapse.
JoeBlowToo
(253 posts)And you are still spending twice as much as any other country on this planet.
MissMarple
(9,656 posts)The military-industrial complex is so integrated into our economy that draconian kind of approach could have undesirable and unintended effects.
DavidDvorkin
(19,485 posts)spooky3
(34,476 posts)blueclown
(1,869 posts)It would have devastating effects on our economy. The military budget is full of bloat, but it also employs countless middle-class citizens who would be the receipients of these draconian cuts.
AgingAmerican
(12,958 posts)Half the deficit comes from the Bush tax cuts. They should have just let all of them expire.
NoOneMan
(4,795 posts)Looks like we are going to need more trees