Tax Cut Deal: White House, GOP Leaders Close To Agreement

Great! $300 BILLION plus. Bush Tax cuts for the rich. Unemployment insurance extended. Something for everybody.

And how is this going to be funded? I mean, there must be some stimulus money left to dip into. There must be some cuts in government spending that will correspond with these new provisions. Right?

WRONG!

Good thing we have all of these conservative "so-called" deficit hawks making sure that our government is fiscally responsible and doesn't spend money it doesn't have!

Tax Cut Deal: White House, GOP Leaders Close To Agreement: "Briefing The Huffington Post about the deal, which could be announced as early as Monday night, the two senior administration officials claimed that they were able to get more bang for their buck than previously imagined. The costs for the payroll tax holidays, UI and other refundable credits come in at roughly $215 billion over two years. The extensions of the income tax rates strictly for the wealthy is estimated to cost about $95 billion. All of it is unpaid for. But the former provisions are more stimulative than the latter."