Tyler Durden's picture CBO Estimates "Obama Tax Cut" To Add $4 Trillion To Deficit

[Vette_Newb]

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 unlike Obelix, 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.



http://www.zerohedge.com/news/2013-0...er-next-decade

[blckslvr79]

Yeah, but we avoided the fiscal cliff thanks to Obama's leadership!

Whew! That was a close one.

Besides, you and I aren't going to be paying that debt.

[the machine]

By the way...just so you all know, Obelix is a cartoon charcter from the Asterix comic book series. It was a french comic that started in news papers and was then turned into a comic book series. It was translated into more than 100 languages but when I was growing up reading them when I took trips to Spain as a kid they were only in French and Spanish. The series is about a Gaul village who resists Roman occupation and the adventures of the main Characters Asterix and Obelix.

Sorry just thought you all should now what this obscure reference refered to.