Jonathan Chait, The New Republic:¹ “According to the Congressional Budget Office, the Senate bill would reduce the deficit by more than one hundred billion doll

Jonathan Chait, The New Republic:¹ “According to the Congressional Budget Office, the Senate bill would reduce the deficit by more than one hundred billion dollars over the next decade. Some critics have asserted that the savings are an illusion produced by phasing in the higher taxes more quickly than the benefits, but this is incorrect. At no point do the costs exceed the savings. Indeed, the savings accelerate more quickly over the long run—CBO calculates² that reform will save on the order of a trillion dollars in its second ten years.” Chait also notes that the bill contains a number of experiments in cost control which the CBO does not credit with any savings in its budget estimates, because we don’t really know yet how effective those experiments will be. ¹ http://www.tnr.com/article/politics/just-noise?page=0,2 http://www.tnr.com/article/politics/just-noise?page=0,2 ² [link currently broken] http://www.cbo.gov/ftpdocs/108xx/doc10868/12-19-Reid_Letter_Managers.pdf http://www.cbo.gov/ftpdocs/108xx/doc10868/12-19-Reid_Letter_...