CBO Admits Error, Now Expects Another $600 Billion In Deficits From Obama Tax Cuts
Their initial estimate of a $4.0 trillion budget increase was wrong and when one factors in the fact that this incremental spending would have to be funded by, you guessed it, debt, debt which has interest, the full impact of the Obama tax cut rises deficits by 15% to $4.6 trillion over the next decade.
Relative to what would have occurred under the laws previously in effect, this legislation will increase budget deficits in coming years.
…we estimated that real gross national product (GNP) would be 1.7 percent lower in 2022 than would have been the case under prior law. .
Oops…
Zero Hedge
From The End of The Lake 
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