THE DEBT DEAL BY THE NUMBERS [View All]

[mikekohr]

$4 TRILLION The amount bond rating agencies agree needs to be cut from the annual deficits over ten years to get our fiscal house in order.

$3.2 TRILLION The amount the original Republican debt reduction plan proposed.

$4.2 TRILLION The amount President Obama countered the original Republican proposal with.
This would have consisted of a 4/1 ratio of spending cuts to tax increases on the rich.

$2.2 TRILLION
The amount of debt reduction finally arrived at after the Republicans nearly drove America into default. Speaker Boehner used the Congressional Budget Office numbers as a baseline for the plan. The CBO’s numbers include the end of the George W. Bush tax give-a-ways to the rich which expire at the end of 2012. Elimination of the Bush tax policies will cut the Federal Debt by $3.7 trillion over a decade.
In effect this works out to approximately a 1/2 ratio of spending cuts to tax increases on the rich.
Only 1% of the spending cuts come into play in 2012, the other 99% coming in the out years. Under the enforcement mechanism of the bill, Social Security, Medicare beneficiaries, food stamps and other low income programs are immune from cuts.

98%

John Boehner is saying he got 98% of what he wanted in this bill. If getting schooled by President Obama, and positioning the Republican Party in 2012 as the goon squad for millionaires and billionaires is what John Boehner wanted I think he actually got 100% of what he wanted.

http://www.whitehouse.gov/fact-sheet-victory-bipartisan-compromise-economy-american-people
http://bobcesca.com/blog-archives/2011/08/upon-further-examination.html
http://www.dailymail.co.uk/news/article-2021517/US-debt-deal-Obama-declares-end-tax-breaks-wealthiest-Americans.html