• $4 billion in deficit cuts proposed over the next freaking decade

• $3T the cost to keep the Bush tax cuts for households that make under $250,000 over the next decade
• 3/4ths of the proposed cuts would be from the Defense Department; the rest would be from tax revenues
• 250k number of contractors whose jobs would be eliminated under the proposal, saving $18.4 billion source

• » How will Congress adopt these ideas? Don’t expect a wholesale adoption of these ideas pushed forward by a bipartisan team of Alan Simpson and Erskine Bowles, but the ideas will definitely push Congress in a fiscally mindful direction.

Posted by Ernie Smith • Permalink