Putting deficit peacocks on notice: Let the Bush tax cuts expire

From the Center on Budget and Policy Priorities and Clusterstock, a reminder for the deficit peacocks, in graphical form.

Look at that massive chunk that represents the Bush tax cuts. As those tax cuts are getting set to expire, expect to hear a lot from those same deficit peacocks about the critical need to extend them, because, they will say (despite reams of evidence to the contrary) tax cuts for the rich is the go to answer for economic recovery and deficit reduction.

Ezra:

For the deficit hawks in Congress, the next few months are going to offer a rare and valuable opportunity: They can do nothing and bring the federal budget much closer to balance. At issue is the expiration of the Bush tax cuts. If allowed to lapse, they'd improve the deficit outlook by about $4 trillion over the next 10 years -- and more after that....

Further, imagine if Congress is able to extend the deficit-busting Bush tax cuts but not unemployment benefits. But that, of course, is what most people think they're going to do. This will be a test for any politician who claims to care about the deficit. If they're willing to let the tax cuts expire -- a tough decision, given the politics of taxes -- it's good evidence that they're serious about cutting the debt. If they're not willing to let the cuts expire, it's irrefutable evidence that they're not.

I wonder how the Cat Food Commission is going to deal with this one.