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December 10, 2010
$858 Billion
Topics: Political News and commentaries$858 billion is what the Obama-McConnell tax compromise will cost over the next 10 years, according to estimates from the Congressional Budget Office. And as WSJ's Washington Wire points out, this means that the Republican-backed tax plan will cost more than the stimulus bill, which priced out at $787 billion.
And we voted for the GOP to cut spending and reduce the deficit?
Perhaps we should look at the bright side ... it could have been worse ... and might, just might, actually help - given that keeping the Bush tax cuts in place is far more likely than not to help hasten an economic recovery and eventually boost federal revenues, which ... so long as we don't increase spending ... should help reduce the debt.
Then, looking at an even brighter side, those "costs" according to the CBO may not actually be "costs" at all, keeping in mind that the money doesn't belong to the government ... it belongs to the American taxpayer.
Related:
Krauthammer Declares Obama the Winner of the Tax Debate
Why Work?
Posted by Richard at December 10, 2010 9:05 AM
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