Posts Tagged ‘for the children’

Congress Fails To Negotiate “For The Children” $1 In Spending Cuts For Every $41 In Tax Increases To Avert Fiscal Cliff

January 1, 2013

According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.

When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cuts—cuts that never ultimately came—they did so at ratios of 3:1 and 2:1.

The one time Congress can actually  do something “for the children”…. they don’t…