“In addition to a soaring stock market, 6.6 million jobs have been created since tax relief measures went into effect in 2003. Our deficit situation has also improved as tax revenues have increased at double-digit rates over the past two years.” YearsHas BeensTwoJobsPastSituationMillionsEffectsTaxesRateReliefTwo YearsSoarRevenueDeficitOver The Past Author:Randy Neugebauer
“Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.” FirstsHas BeensFallCausesHalfGrowingProductsColdOfficePercentRateSignificantBudgetsAnalysisGrossDeficitTurkeysCliffsReductionRecessionsAnnualsGross Domestic ProductCold Turkey Author:Christina Romer