Word: trillion
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...during negotiations was asked to leave the room because the Republicans wanted to negotiate among themselves out of earshot of a Democrat, calls the bill "a fraud on the American people." He and others charge that the bill underestimates the true cost of the tax cuts by half a trillion dollars and that it is aimed squarely at the richest Americans...
...rules require Congress to include a sunset clause in all major tax legislation, but this sunset arrives a year early--after 10 years instead of the 11 years covered by the current budget resolution. That year was shaved off to keep the total cost of the bill under $1.35 trillion. By repealing the legislation in the 10th year, Congress saved billions of dollars. Without the repeal and a few other tricks, the cost of the full 11-year plan would balloon to more than $1.8 trillion by the end of 2011, far exceeding anything the Democrats would vote...
These bigger numbers remain relevant because no future Congress wants to commit political suicide by allowing this tax cut to expire. Simply stated, all of Washington knows many of these provisions are in effect permanent. The Big Lie is that it costs only $1.35 trillion. Since the real cost is much greater, future Administrations--and Congresses--will have to deal with a political nightmare: the real possibility of deficit spending a decade from now as baby boomers begin to retire en masse and sap the Social Security and Medicare systems...
Congress passed, and President Bush will sign, a 10-year, $1.35 trillion plan that offers savings to every taxpayer. This table shows the effect in 2010, when it is fully phased...
...heap of desperate promises never kept. Tech is torrid. Again. You want in. Again. Yet this could turn into Bubble II, a sequel with nearly as much punch as the original. That's not what anyone wants to hear after a yearlong, tech-led bust that wiped out $5.2 trillion of stock-market wealth. But the dangerous reality is that tech stocks, now on the rebound, probably have come too far too fast...