Tax Increase - Not Much Difference btw Full Extension & Obama Plan

[dex]

Deficit increase - Obama 3T; Full Extension 3.7T over 10 years

I'm surprised how little the difference is between the two - 700B or 70B/yr.

How the fight over tax breaks affects your bottom line | The Washington Post

 

[dgoldenz]

You know things are out of hand when $700 billion is a "little difference." That's only one half of one year of deficit. Crazy.

 

[dex]

You know things are out of hand when $700 billion is a "little difference." That's only one half of one year of deficit. Crazy.

.....

70B/yr. .....

 

[dgoldenz]

I'm not stupid. I know that the $700B references 10 years...

 

[beowulf]

But after inflation over 10 years, it's only $400

 

[fisherman]

I'm not stupid. I know that the $700B references 10 years...

Certainly not calling you stupid but I think Dex was point out that you were comparing a ten year deficit to half od one years budget which is not an Apples to Apples comparison. 10 to 1.

 

[dgoldenz]

Certainly not calling you stupid but I think Dex was point out that you were comparing a ten year deficit to half od one years budget which is not an Apples to Apples comparison. 10 to 1.

I know. My point was that it amazes me that such a big change in law (and potentially, the economy) would only result in one half of one year's deficit being "paid off" (a.k.a. being used somewhere else and still adding to the deficit) even though the numbers used are a 10-year window. Meanwhile, another 9.5 year's worth of deficits will be adding up with no change in sight.

 

[modhatter]

I'll take a 700 billion deficit reduction any day. Now I'm sure we can come up with some more if we really try and get congress would work together instead of blocking reform.

 

[HFWR]

But after inflation over 10 years, it's only $400

And a bag of chips...