Cost of the Tax Cut Deal: $900 Billion
It’s worth pointing out, as Andrew Samwick does, that the deal reached between Obama and the GOP is enormously expensive. As the New York Times puts it simply:
The package would cost about $900 billion over the next two years, to be financed entirely by adding to the national debt, at a time when both parties are professing a desire to begin addressing the nation’s long-term fiscal imbalances.
This is just mindbogglingly irresponsible.