Obama, Republicans Agree To Hold More Meetings On Bush Tax Cuts

If Bush's tax cuts are allowed to expire as they are set to on December 31st, the deficit would be cut in half, instantly.   

If the tax cuts are continued for the rich, we would have to borrow $700 billion to pay for it.

If the tax cuts are continued for everyone, we would have to borrow $3 trillion to pay for it.

And if there is a 2-year extension "compromis­e", we would still have to borrow $70-140 billion for the rich's portion and $383 billion for the middle class's portion.

It's entirely likely that even without borrowing these monies, Social Security benefits, Medicare, Medicaid and all public health programs (veterans care, SCHIP, CHAMPUS, etc.) will be slashed, and the Social Security trust fund will be privatized­.  We've already heard that Democrats are open to it.  

Increasing the deficit harms ordinary people and further wrecks the economy.
Read the Article at HuffingtonPost