The Fiscal Cliff's frightening lack of an impact on debt

Earlier this week we talked to Sen. Mark Warner about the likelihood of a deal being hatched to avoid the so called "Fiscal Cliff".

In our lengthy interview, Warner pointed out that even if Congress allowed the deep cuts and big across the board tax increases, the growing federal debt would keep growing. Even after a decade of suffering under the potential dramatic economic impacts.

Thursday night on NBC12, we illustrated Warner's point with a graph put together by the non-partisan Congressional Budget Office.

Here is that report:

NBC12.com - Richmond, VA News, Weather, Traffic   

And here is a closer look at the at graph from the CBO. Note the "blue" portion is a projection of what could occur should Congress strike a Fiscal Cliff deal.  

 

Comments

[James]

They'd be better off calling it the Clown Budget Office with the numbers they like fudging... http://www.cato-at-liberty.org/for-the-sake-of-intellectual-integrity-republicans-should-not-cite-the-cbo-when-arguing-against-obamas-proposed-fiscal-cliff-tax-hike/