JANUARY 2011 | FIG. 4. DUELING PLANS FOR DEFICIT REDUCTION

Obama didn’t immediately embrace his deficit commission’s recommendations. His 2013 budget proposes $5.3 trillion in deficit reduction over 10 years.

BOWLES-SIMPSON COMMISSION DEC. 2010

Bowles-Simpson would’ve reduced the deficit more if it had claimed credit for these savings, as Obama does

$850b Ending wars

$850b High-end Bush tax cuts expire

$1.9t Other spending cuts and interest savings

$1.1t Tax increases

$900b Pentagon and other security cuts

Projected deficit reductions over nine years, 2012-2020

OBAMA’S 2013 BUDGET PROPOSAL FEB. 2012

$2.4t Other spending cuts and interest savings

$850b Ending wars

$850b High-end Bush tax cuts expire

$710b Tax increases

$490b Pentagon cuts

Projected deficit reductions over 10 years, 2013-2022

Change since Dec. 2008

+383 ↑ S&P 500-stock index

-3.92m ↓ Payrolls

-18 points ↓ Obama approval

+7 points ↑ Consumer comfort

+76,000 ↑ Housing starts rate

DATA: COMMITTEE FOR A RESPONSIBLE FEDERAL BUDGET, OFFICE OF MANAGEMENT AND BUDGET

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