memeorandum: CBO: Fiscal cliff deal adds $4 trillion to deficits (CNNMoney.com)

7:50 PM ET, January 1, 2013

Top Items:

House GOP opposition to fiscal cliff bill grows — A carefully-crafted Senate compromise to avert the fiscal cliff could be in jeopardy, as House Republicans seem nearly certain to tweak the legislation and send it back to the Senate because it doesn't contain sufficient spending cuts.

Discussion: Washington Monthly, CNN, ABCNEWS, The Daily Beast, The Hill, The Strata-Sphere, Mediaite, The Week, The Reality-Based Community, The National Memo, The New Civil Rights Movement, The Maddow Blog, ABCNEWS, Weasel Zippers, The Fix and Prairie Weather

Peter Schroeder / The Hill:

CBO: ‘Fiscal cliff’ deal carries $4 trillion price tag over next decade — The Senate deal to avoid the “fiscal cliff” will add roughly $4 trillion to the deficit when compared to current law, according to new numbers from the Congressional Budget Office (CBO).

Discussion: CNN and The Gateway Pundit

John Stanton / BuzzFeed:

House Conservatives Theaten To Kill Fiscal Cliff Deal — A member jokes that Senate Republicans “must have been drunk” when they voted for the compromise. — Image by Jacquelyn Martin / AP — WASHINGTON — Less than 12 hours after Senate Minority Leader Mitch McConnell …

Discussion: The Raw Story and Washington Post

Brian Beutler / Talking Points Memo:

Could A Boehner-Cantor Rift Send The Country Over The Fiscal Cliff? — A rift at the highest level of House Republican leadership is imperiling Senate-backed legislation to yank the economy back from over the fiscal cliff — legislation that House Republicans directly asked their GOP counterparts in the Senate to negotiate and pass.

Discussion: The Moderate Voice, Alan Colmes'Alan Colmes', CBS News, The Hill, Bloomberg and Post Politics

William Kristol / Weekly Standard:

Say Yes to the Mess — The fiscal cliff deal that the Senate passed early this morning is ridiculous in too many ways to count. There seem to be no figures from the Congressional Budget Office and only “very preliminary” figures from the Joint Tax Committee about the real spending and revenue implications.

Discussion: CNNMoney.com and The Daily Caller

Ryan Grim / The Huffington Post:

U.S. Fiscal Cliff Deal Leaves House Republicans Angry, Deal In Jeopardy … REACT: — FOLLOW: — Eric Cantor, Congress, Paul Ryan, Republicans, Video, US Fiscal Cliff, Fiscal Cliff, Fiscal Cliff 2012, Fiscal Cliff 2013, Fiscal Cliff Deal, The Fiscal Cliff, Politics News

Discussion: CNN, Associated Press, Booman Tribune and Balloon Juice

Alexander Bolton / The Hill:

Senate Democrats will reject House changes to tax bill, aides say — Senate Democratic leaders say they will reject any House effort to amend a fiscal cliff deal that passed the upper chamber with overwhelming support on New Year's Day. — “The House Republicans have two choices …

Discussion: ABCNEWS and AMERICAblog

Jennifer Steinhauer / New York Times:

House Takes On Fiscal Cliff — As the new year began on Tuesday, Congressional efforts to head off tax increases on most working Americans shifted to the House, where members began to pore over details of a plan passed by the Senate in the early morning hours as Republican leaders began …

Discussion: CNN, Angry Bear, Politico, The Week, The Maddow Blog and Balloon Juice

Bob Cusack / The Hill:

Boehner's 100 loyal soldiers might give him political cover on ‘fiscal cliff’ — Speaker John Boehner (Ohio) has about 100 Republican members he can count on if and when the Senate-passed “fiscal-cliff” bill hits the House floor, according to an analysis by The Hill.

Discussion: The Hill, Hot Air, Hullabaloo and Crooks and Liars

Jonathan Weisman / New York Times:

Senate Passes Tax Increases on Wealthy Americans — WASHINGTON - The Senate, in a pre-dawn vote two hours after the deadline passed to avert automatic tax increases, overwhelmingly approved legislation Tuesday that would allow tax rates to rise only on affluent Americans …

Kyle Balluck / The Hill:
House Republicans gauging support for two budget options

Discussion: Talking Points Memo, Firedoglake, Crooks and Liars, CBS News and The Hill

Matthew Boyle / BREITBART.COM:
FISCAL CLIFF DEAL: $1 IN SPENDING CUTS FOR EVERY $41 IN TAX INCREASES

Discussion: Patterico's Pontifications, Chicago Boyz, Politico and Twitchy

David Brooks / New York Times:
Another Fiscal Flop

Discussion: Firedoglake, Right Wing News and The American Conservative

Kevin Drum / Mother Jones:
Part 1 of the Fiscal Cliff is Over. Now Gird Yourself for Part 2.

Discussion: Washington Monthly

David Rogers / Politico:
The price tag: $4 trillion added to deficit

Discussion: Truthdig

CNNMoney.com:
CBO: Fiscal cliff deal adds $4 trillion to deficits

Discussion: Washington Times, Weasel Zippers, CNN and Outside the Beltway

William A. Jacobson / Le·gal In·sur·rec· tion:
Senate passes massive tax cut which raised taxes over $600 billion in middle of night without reading the bill

Discussion: Twitchy, Business Insider, Post Politics and UrbanGrounds

CBS News:
Fiscal cliff deal heads to House after Senate vote

Discussion: Michelle Malkin, Le·gal In·sur·rec· tion, Prairie Weather, Calculated Risk and New York Times

Fox News:
Fiscal crisis measure now heads to the House for approval

Discussion: Fox News Insider and protein wisdom

Paul Krugman:

Perspective on the Deal — To make sense of what just happened, we need to ask what is really at stake, and how much difference the budget deal makes in the larger picture. — So, what are the two sides really fighting about? Surely the answer is, the future of the welfare state.

Discussion: The Plum Line, AMERICAblog, Campaign for America's Future, Brad DeLong, Hot Air, The Agonist, Economist's View, Booman Tribune, ABCNEWS, The New Republic and ctj.org

Peter Baker / New York Times:

View From the Left: Obama ‘Kept Giving Stuff Away’ — President Obama's fiscal deal with Republicans has touched off a fresh wave of grievance among disappointed liberals who complained that he caved in on taxes and sent a signal that he would ultimately surrender on other priorities as he prepared to open his second term.

Discussion: The Agonist, Hullabaloo and Firedoglake

Zeke Miller / BuzzFeed:
White House Claims Victory In Fiscal Deal

Discussion: Politico and The Daily Caller

Ezra Klein / Wonkblog:
Wonkbook: Everything you need to know about the fiscal cliff deal

Discussion: JustOneMinute, Angry Bear, The Mahablog and The Huffington Post

Noel Sheppard / NewsBusters.org blogs:

Kathy Griffin Kisses Anderson Cooper's Crotch On National Television — No matter what vulgar things Kathy Griffin does on CNN's live New Year's Eve broadcasts, the folks at the supposedly most trusted name in news continue to invite her back. — On Monday night's program …

Discussion: Ed Driscoll, Right Wing News, The Jawa Report and Small Dead Animals

Donovan Slack / Politico:

White House declares victory — The White House issued a “fact sheet” statement Tuesday declaring the fiscal cliff agreement a victory, though the House has yet to vote on the measure. — “At this make or break moment for the middle class, the President achieved a bipartisan solution …

Discussion: The Gateway Pundit, Weasel Zippers and The Hinterland Gazette