Yesterday, the nonpartisan Congressional Budget Office dealt another blow to Republicans clinging to the notion that the Bush tax cuts did not help fuel the surge in deficits over the past decade. In a new report, CBO estimates a cumulative deficit of $6.2 trillion from 2002-2011; with a price tag of $2.02 trillion, the Bush tax cuts, including last year's extension, are responsible for almost one-third of the shortfall.
The Bush tax cuts cost about four times more than President Obama's oft-demonized Recovery Act, according to the report. Still, the CBO numbers are unlikely to sway congressional Republicans, who are seeking additional tax cuts for the wealthy in the current budget debate.
http://www.cbo.gov/ftpdocs/121xx/doc12187/ChangesBaselineProjections.pdf
http://politicalcorrection.org/
- 86 47 -
| 
