yes... How can you calculate a cost over 10 years of a 1 year extension of the Unemployment Insurance and Payroll Tax deduction..
This kind of math doesn’t make sense to me..
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That’s how the CBO does estimates. Some of the effect of the bill is > 2 years.
Here’s the original source:
http://cbo.gov/ftpdocs/120xx/doc12020/sa4753.pdf
Yea... well.. MOST of what the CBO says and does is CRAP.
10 years means NOTHING for this bill... No One should be talking about that way. It's a 2 year deal, with slight lingering effects.
Basically, this deal results in an addition of $916 Billion to official deficit figures over the next three years. Of that amount, 63% of it is directly attributable to NOT raising income taxes and actually lowering payroll taxes...
I say... that's a pretty good deal, let's TAKE IT.
There is NO GUARANTEE that Obama will not come back next year, say NO to any new Republican plan... and then allow taxes to go WAY UP on all of us. Besides... it's TIME, NOW... to KNOW what the tax rates will be. We don't have any more time to bargain.
Pass the deal... let's move on... next year, OUR GUYS can get started trying to CUT SPENDING!