How Fiscal Cliff Deal Cost Us Trillions
January 6, 2013
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5:15Now PlayingHow Fiscal Cliff Deal Cost Us Trillions
YouTube Description
as posted by the channel"The fiscal cliff deal approved by Congress will increase deficits over the next decade by close to $4 trillion, according to the Congressional Budget Office.
That estimate is relative to a benchmark where all the Bush tax cuts expire and the the fiscal cliff stays in place. Technically, that's what would happen if Congress had done nothing to avert the cliff."*
The fiscal cliff deal was supposed to help lighten our deficit, right? Well, analysts say it will pile on more-- to the tune of $4 trillion. How, and why did this happen? Cenk Uygur, Ben Manckiewicz (Host, Turner Classic Movies) and John Iadarola (Host, TYT University) discuss.
*Read more from CNN Money
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