The FY2012 Budget Deficit in Perspective

Yossi Gestetner
As you sure know by now, the CBO reported Monday that the Federal Government ran up $192 billion in new deficits during August to a total of $1.17 trillion in deficits for the first 11 months of FY2012. Let's put these numbers into perspective*:   The deficit of just one month (August 2012) of $192 billion is larger than thirty two months of Bush Tax Cuts for the Rich. The Deficit of just one month (August 2012) is larger than a year-long cost of Bush tax cuts for the rich, poor and middle class combined. The deficit for 2012 is larger than the sixteen year cost of Bush Tax Cuts for the Rich. The deficit for 2012 is larger than the six year cost of Bush's Tax Cuts for the Rich, Poor and Middle Class Combined. The monthly average deficit for 2012 is as of now $106 billion. To put it into perspective, the monthly cost of the Bush Tax Cuts for the Rich is only $5.83 billion. If you retroactively roll back and collect the twelve year cost of the Bush Tax Cuts for the Rich ($840...(Read Full Post)

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