CBO Score for what the Senate passed

[Sooner5030]

bleh....kinda ugly.

http://www.cbo.gov/sites/default/files/cbofiles/attachments/American%20Taxpayer%20Relief%20Act.pdf

[LiveLaughLove]

Looked at it, eyes glazed over. I'm going to guess that it does absolutely nothing to curb spending, and perhaps even increases it.

Whaddo I win?

[cleller]

Lots of minus signs in that thing. It must all be theoretical. Play money or something.

[Sooner5030]

Lots of minus signs in that thing. It must all be theoretical. Play money or something.

Basically the bill will add almost $4 trillion to the annual deficits over the next ten years.

[sappstuf]

Looked at it, eyes glazed over. I'm going to guess that it does absolutely nothing to curb spending, and perhaps even increases it.

Whaddo I win?

Yep. The Dems fight tooth and nail against spending cuts that are pretty much a rounding error in the annual budget...

[Petro-Sooner]

We should pay more in taxes. That will fix everything.

[FaninAma]

Basically the bill will add almost $4 trillion to the annual deficits over the next ten years.
The economy will not survive for 10 years. As soon as interest rates spike up on short term bonds we are toast.

You progressives should be trembling in anticipation of that day when we all be equal......equally broke.

[LiveLaughLove]

Basically the bill will add almost $4 trillion to the annual deficits over the next ten years.

That's the liberalism we all know and love. Way to go Republicans, all but 5 of you voted for this, and thereby just gave Obama cover to blame you yet again when it all goes snafu.

You guys are brilliant. Truly dazzling intellects.

[cleller]

The economy will not survive for 10 years. As soon as interest rates spike up on short term bonds we are toast.

You progressives should be trembling in anticipation of that day when we all be equal......equally broke.

You don't believe we will grow our way out of trouble? Don't believe INCREASING debt and spending is what's best for the economy? You must have missed some basic econ theory along the way.

Lots and lots of bonds out there waiting for rates to start up and reveal their riskier side.

[LiveLaughLove]

You don't believe we will grow our way out of trouble? Don't believe INCREASING debt and spending is what's best for the economy? You must have missed some basic econ theory along the way.

They must be listening to my wife. She believes spending is ALWAYS the way to go in all situations.

She is the Chesty Puller of shopping wives. :)

[Sooner5030]

I didn't here any mention of the CBO score during the CNN and FNC evening news. Kinda sad that no major media outlet is bringing up the fact that this bill adds to the deficit.

We're done.

[Sooner5030]

Update.......the CBO actually increased the amount to 4.6 trillion......they forgot to add the increase in debt interest.

http://www.cbo.gov/publication/43835


Like all of CBO’s cost estimates, our estimate for this legislation shows the effects of the legislation relative to current law at the time we did the estimate. Relative to the laws in place at the end of 2012, we estimate that this legislation will reduce revenues and increase spending by a total of nearly $4.0 trillion over the 2013-2022 period.


That dramatic widening of the budget deficit will increase interest payments on the federal debt, an impact that is not included in CBO’s cost estimates. The additional debt service will cost about $600 billion. Thus, if we added the estimated cost of the legislation and the related debt service to our previous baseline budget projections (which followed current law at the time), we would show additional deficits between 2013 and 2022 of roughly $4.6 trillion.


e estimated that real gross national product (GNP) would be 1.7 percent lower in 2022 than would have been the case under prior law.

[Soonerjeepman]

Where's all the libs to defend this?

[diverdog]

Where's all the libs to defend this?

We are sitting back and laughing our asses off because you guys can't read for ****.

[Midtowner]

We are sitting back and laughing our asses off because you guys can't read for ****.

Pretty much.

Didn't want to interrupt the circle jerk.

[soonercruiser]

And the evil, lying SOB of a President has the gall to hold a news conference/photo op bragging about the reduction in the deficit as a result!
What a ***&%9494n!!!
:devilish:

[LakeRat]

Let me show you my shocked face!! :obama icon:

[Midtowner]

And the evil, lying SOB of a President has the gall to hold a news conference/photo op bragging about the reduction in the deficit as a result!
What a ***&%9494n!!!
:devilish:

It is a reduction in the deficit.

[Bourbon St Sooner]

It is a reduction in the deficit.

Adding $4 trillion in debt through a reduction in the deficit? You must have taken different accounting classes than I did.

[diverdog]

Adding $4 trillion in debt through a reduction in the deficit? You must have taken different accounting classes than I did.

The way I read the article is that keeping the Bush era tax cuts will cost an extra $4 trillion. So the CBO is arguing for higher taxes.

[Soonerjeepman]

The way I read the article is that keeping the Bush era tax cuts will cost an extra $4 trillion. So the CBO is arguing for higher taxes.

so you're saying let the cuts expire, therefor raising taxes on the MC that numbnutz said he wouldn't do? just getting clarification.

[Bourbon St Sooner]

The way I read the article is that keeping the Bush era tax cuts will cost an extra $4 trillion. So the CBO is arguing for higher taxes.

I think you read wrong. This was the big print from the linked article


Relative to what would have occurred under the laws previously in effect, this legislation will increase budget deficits in coming years.

I think what they were comparing to is what would have happened if the entire Bush tax cut would have expired and sequestration went into effect since that was the law set to go into place.