“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, and John Iadarola discuss.
*Read more from CNN Money: http://money.cnn.com/2013/01/01/news/economy/fiscal-cliff-deal-cbo/index.html