The Congressional Budget Office reports that the “American Jobs Act” would make the federal deficit jump $288 billion in 2012. In other words, the 2012 deficit would rise by about twenty-five percent–from $1.2 trillion to $1.5 trillion. The most recent budget fight between Republicans and Democrats resulted in just a $22 billion cut to the 2012 deficit.
The CBO predicts that over 10 years the American Jobs Act would raise enough taxes to pay for the short-term stimulus:
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