It was negotiated between 6 Republicans and 6 Democrats and at the time was hailed by everyone including the President, Boehnner, McConnell and Reid.
Both parties were part and parcel to this one.
And I don't know why anyone is complaining - it's 2% of the total budget. The ONLY problem is the annual cuts take place in a compressed 7 month time span this year - as the Federal budget runs from Oct 1, to Sept 30.
So for the decade
$1.8T in cuts in the fiscal cliff deal
$600B in new revenues
$1.2T in cuts from the sequester
$3.6T in debt reduction over the next decade.
If you want to follow Simpson Bowles you have to come up with another $400B in revenues to achieve that $3 in cuts for every $1 in revenue figure though
PS - so why isn't Obama getting credit for this debt reduction? No other President has ever done this? If the "blame game" stops at his desk - doesn't the begrudging credit stop there too?
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