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FYI for the Supercommittee

September 12, 2011 at 8:23 PM
BY
CBPP

5-17-11bud.JPGAs the new congressional deficit-reduction committee -- which holds its first hearing tomorrow -- begins work, it should keep in mind the main factors driving today's large deficits. This well-known chart shows that the economic downturn, President Bush's tax cuts, and the wars in Afghanistan and Iraq explain virtually the entire deficit over the next ten years; see our May analysis for details.

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