|Congress Doing Nothing Reduces Deficits|
The following breakdown is from Ezra Klein's 11/18/2011 blog at The Washington Post:
- $3.3 trillion from letting temporary income and estate tax cuts expire;
- $0.8 trillion from allowing other temporary tax cuts to expire on schedule;
- $0.3 trillion from letting cuts in Medicare physician reimbursements take effect;
- $0.7 trillion from letting temporary increase in AMT exemption expire;
- $1.2 trillion from letting sequestration take effect; and
- $0.9 trillion in lower interest payments on the debt.