CBO: Fiscal cliff deal adds $4 trillion to deficits
January 1st, 2013
03:54 PM ET
1 year ago

CBO: Fiscal cliff deal adds $4 trillion to deficits

New York (CNNMoney) – The fiscal cliff deal passed by the Senate Tuesday morning would increase deficits over the next decade by close to $4 trillion, according to the Congressional Budget Office.

But that's relative to where deficits would otherwise be if Congress were to let all the Bush tax cuts expire and keep much if not all of the other tax hikes and spending cuts under the fiscal cliff in place. Under that scenario, only $2.88 trillion would be added to the debt over the next decade.

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Filed under: CNNMoney.com • Fiscal Cliff • Senate
soundoff (5 Responses)
  1. Scott Cross

    It's clear to me the GOP is operating under the delusion that the 2010 electorate is reflective of the 2012 electorate. Republicans better start understanding that the electorate is changing because Americans are sick of party politics being a barrier to progress! Keep it up GOP and you will see next year just how fed up Americans are with your games...

    January 1, 2013 04:08 pm at 4:08 pm |
  2. Name lynn

    this is what the fiscal cliff is about money an hurting the poor an middle class people obama says thats not going to happen them republicans an white house leaders is for the rich people not the poor people what obama says is true about them nit wits in the white house obama can pass any bill he wants

    January 1, 2013 04:16 pm at 4:16 pm |
  3. Drew

    Ideology kills!!

    January 1, 2013 04:24 pm at 4:24 pm |
  4. Diridi

    How??? Are you not generating money by TAXES????? bS–one sided version. Cut defense. Then.

    January 1, 2013 04:28 pm at 4:28 pm |
  5. Rick McDaniel

    Precisely why the cliff is a better option.

    January 1, 2013 04:50 pm at 4:50 pm |