we're already over

Charts from Center on Budget and Policy Priorities

The first $2 trillion is the easiest. Now the second $2 trillion. Bowles-Simpson gets $2.6 in new revenues from the expiration of the Bush tax cuts. Capital gains and dividends would be taxes as ordinary income.

Obama's new taxes would come exclusively from high earners.

Republicans are willing to raise revenue, but aren't saying how.

President Obama said today that the meeting with Congressional leaders went well and he is positive a deal can be reached. The debt ceiling will not be part of a substantive agreement. Mitch McConnell said the meeting went well. The deadline is Sunday the 30th.

Source story for this article from theatlantic.com

The deficit dynamic can not be handled with just revenue (tax) increases. That's why we are already over the cliff.

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