Chart: ‘Buffett Rule’ and Obama’s deficits

Published March 20, 2012 4:00am ET



There were several significant developments in the budget debate this morning. House Budget Committee Chairman Rep. Paul Ryan, R-Wis., released a budget plan to put America on a sustainable fiscal course. Shortly after, the White House issued a press release blasting the budget. Then, the Associated Press reported that an analysis by the Joint Committee on Taxation — Congress’s scorekeeper on revenue — confirmed that the “Buffett rule” that President Obama had repeatedly touted in his deficit speeches, was really just a class warfare talking point and not a serious plan to tackle the federal debt.

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