“Tonight’s agreement further reduces the deficit by raising $620 billion in revenue from the wealthiest households.”
I don’t believe this for a minute. When the “threshold” for “millionares” was at $200K and $250K, the additional revenue was approximately $70-80B a year. Of course that also makes the false assumption that economic activity is static. This new “threshold” for the “super rich” is some portion of that original number. I have not yet seen what it was, but it is 100% already spent between the Sandy relieve bill at $60+B just passed and the Fed employee raise at $11B...
Hey, what bowl game is tonight....
He’s already got about half of that $620B allocated for new spending...and you can bet that is a low-ball estimate on the spending.
That $620B is already gone...
The Sandy bill did not get passed and the pay raise was rescinded...
But they will both be back soon...