It can get a bit tough to follow President Obama and House Speaker John A. Boehner’s back-and-forth debt deal negotiations, so we thought we’d put together a simple chart to explain how the two sides’ positions have evolved as the talks have progressed.
UPDATE: John Boehner’s proposal to extend the Bush tax cuts for income under $1 million is now included. The revenue figure is for a previous version of that plan, and may be greater than Boehner’s iteration actually generates Also, a word on “interest savings”: this is money saved because other deficit reduction measures will reduce the US debt load and thus the amount of money the federal government has to spend paying interest on that debt. As such, the amount is a function of the size of the rest of the package.
The first five figures are courtesy of Goldwein and CRFB, and the last (for Boehner’s latest volley) is an approximation based on the fact that interest savings typically amount to 15 percent of the interest-exclusive savings in a deficit package.
UPDATE II: We’ve revised down the revenue estimate on Boehner’s proposal to $300 billion (before interest) from $463 billion, reflecting the latest estimates of Boehner’s particular plan.