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CBO Estimates “Obama Tax Cut” To Add $4 Trillion To Deficit Over Next Decade
Posted By admin On January 2, 2013 @ 5:34 am In Featured Stories,Tile | Comments Disabled
Zero Hedge 
Jan 2, 2013
First - it is no longer the “Bush (temporary) tax cut” – it is now the “Obama (permanent) tax cut“, with a loophole for the 1%ers (whose big picture “impact” we showed previously )
Second - according to the just released scoring by the CBO , the total impact on the US budget deficit of said permanent tax cuts, will be a $4 trillion increase in the deficit over the next decade. In reality, due to the CBO’s perpetual optimistic bias , this number will likely be orders of magnitude lower than what it actually ends up being.
Maybe the US can just increase the taxes on the uber wealthy some more, and pray that unlikeObelix , they have never heard of Belgium.
In other news, perhaps it is time for the CBO to come up with an Extended Extended Alternative Alternative Fiscal Scenario. Because the baseline Extended Alternative, as demonstrated previously and as shown below, may now be just a smidgeon optimistic.
Source: CBO 
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URL to article: http://www.prisonplanet.com/cbo-estimates-obama-tax-cut-to-add-4-trillion-to-deficit-over-next-decade.html
URLs in this post:
 Zero Hedge: http://www.zerohedge.com/news/2013-01-01/cbo-estimates-obama-tax-cuts-add-4-trillion-deficit-over-next-decade
 showed previously: http://www.zerohedge.com/news/2013-01-01/putting-americas-tax-hike-perspective
 scoring by the CBO: http://www.cbo.gov/sites/default/files/cbofiles/attachments/American%20Taxpayer%20Relief%20Act.pdf
 CBO’s perpetual optimistic bias: http://www.zerohedge.com/news/speaking-credibility-here-cbos-2001-forecast-which-predicted-negative-25-trillion-net-debt-2011
 Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/12-2/Obama%20Tax%20Cut.jpg
 Obelix: http://www.zerohedge.com/news/2012-12-16/depardieu-shrugged
 demonstrated previously : http://www.zerohedge.com/news/cbo-will-need-bigger-chart-forecast-exponentially-rising-us-debt
 Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/12-2/CBO%20Future%20Debt.jpg
 Geithner defends Obama as deficit again tops $1 trillion: http://www.prisonplanet.com/geithner-defends-obama-as-deficit-again-tops-1-trillion.html
 Obama Budget Office Forecasts $1.47 Trillion Deficit This Year: http://www.prisonplanet.com/obama-budget-office-forecasts-1-47-trillion-deficit-this-year.html
 Obama to raise 10-year deficit to $9 trillion: http://www.prisonplanet.com/obama-to-raise-10-year-deficit-to-9-trillion.html
 Congressional Budget Office Projects $9.5 Trillion In Deficits By 2021, $2.3 Trillion More Than Obama’s Estimate: http://www.prisonplanet.com/congressional-budget-office-projects-9-5-trillion-in-deficits-by-2021-2-3-trillion-more-than-obamas-estimate.html
 US August Budget Deficit Soars To $192 Billion, $1.17 Trillion In Fiscal 2012: http://www.prisonplanet.com/us-august-budget-deficit-soars-to-192-billion-1-17-trillion-in-fiscal-2012.html
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