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CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
Just out from the CBO: A “score” of the Fiscal Cliff deal that the Senate voted on last night.
You can find the score on the 2nd page of this embedded document. The bill adds nearly $ 4 trillion to the deficit over the next 10 years. Of course, this is against the baseline (which assumed the expiry of all tax cuts) so naturally undoing those tax increases was going to add a lot to the deficit.
For the full text of the American Taxpayer Relief Act of 2012, see here.