Serious People

Obama administration: Senate Leader Mitch McConnell’s tax plan […] to permanently extend the Bush tax cuts for America’s millionaires and billionaires would nearly double the projected deficit by adding $4 trillion to it over the next decade. And [the GOP is] pretending that they would pay for it through a projected spending freeze, that fails to mention what they would freeze or cut, and that would only save $300 billion over that same period of time…
Senior GOP adviser’s response: It must be tough to have to work in [the administration’s] press shop and explain that letting people keep their own money is bad, and having to explain why you think the Bush administration economic policy is bad, but you want to make it permanent. Though I’m still curious: how much does their plan add to the deficit? Is it three trillion or 3.3 trillion?