It’s hard to look at what Congress and the White House
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD1vTyLkJptJThFKlv7itk4sl32n9XunMedRiT-AVO6ju3_c1bjy94d8bOT_ZOMcNPN01A2dG2gI71dr6ILL4bm37SnROAaiyhzyBcERxnzKv6Rj3QANJxA7PkZVlUdrzgYJ2LDP9ZjdQ/s400/economic-stimulus-tax-cut.jpg)
Of course, all the money that is about to gush from Washington will just get tacked on to the annual deficits for the next two years and the national debt. Here’s a breakdown of the costs from various sources around the internet:
* $400 billion – Extending the 2001-2003 tax cuts
* $150 billion – Business investment write offs for next year
* $140 billion – Changes to the AMT for middle class tax payers
* $120 billion – Cutting the payroll tax from 6.2 percent to 4.2 percent
* $56 billion – Extending unemployment insurance benefits for 13 months
* $17 billion – Extending the tax cuts from last year’s stimulus bill
* $17 billion – Lowering the estate tax to 35 percent for some
Those last two were just guesses, but they’re relatively small and make the total come out to the widely publicized $900 billion total. I wonder what the deficit commission thinks of this.
This article has been republished from Tim Iacono's blog, The Mess That Greenspan Made.
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