About that $4 Trillion Deficit
So they are now complaining about the cost, while their own plan would have cost more!!??
A quick word about this:
The CBO determined Tuesday that the package, hammered out late Monday evening by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.), would — over the next decade — come with a $3.9 trillion price tag.
The price tag is calculated based on the deficit if the Bush tax cuts had been able to completely expire. So any Republicans screaming about the fiscal cliff deal’s deficit-creation doesn’t know what they’re talking about and, in fact, the Republicans supported a larger deficit by making all of the Bush tax cuts permanent. The president and the Democrats, meanwhile, wanted more of the tax cuts to expire than the Senate Republicans. Establishing the cut-off at $250,000 would’ve created less of a deficit than the McConnell-backed $400,000 cut-off.
Maddow has more on this. She nails the hypocrisy of the Republicans.
There’s nothing necessarily wrong with Bret Baier asking for the clearly-labeled opinions of commentators, notwithstanding the merits of those opinions. Where he errs is in substituting those opinions for clear, accurate information.
Meanwhile, over on MSNBC, Rachel Maddow delivered her analysis of the CBO report, which included her commentary on Republicans trying to have it both ways on tax cuts and the deficit, but also clearly explained the logic behind the CBO’s calculation, and she even let Republican Congressman Darrel Issa explain it:
For the last 10 years republicans have justified tax breaks as paying for themselves. ie, they don't cost money.
NOW, SUDDENLY, they do.
Can they ever be taken seriously on anything?