Chart Of The Day

by Patrick Appel

Howard Gleckman reads a new paper (pdf) by Adam Looney on the Bush tax cuts:

Keep in mind that Obama's plan to extend the 2001 and 2003 tax cuts for nearlyall--as opposed to all—would still add trillions to the deficit overthe next decade. When Adam says the Obama plan would make a "small downpayment toward fiscal responsibility" he means it would make thedeficit less bad—relative to current law—than extending the tax cutsfor everyone, including the highest earners. Still...