Chart of the Day: Deficit Reduction So Far = $2.4 Trillion


Michael Linden and Michael Ettlinger provide us today with a handy chart of all the deficit reduction we’ve implemented over the past couple of years. In all, we’ve reduced spending by $1.8 trillion and increased taxes by $600 billion, for a total of $2.4 trillion. More details here. This may not be the grand bargain of Beltway dreams, but it’s pretty good progress in a short period of time.

And three-quarters of it has been from spending cuts. If you’re wondering why President Obama thinks the sequestration negotiations should include a balance of both spending reductions and tax increases, now you know.

THANK YOU.

We recently wrapped up the crowdfunding campaign for our ambitious Mother Jones Corruption Project, and it was a smashing success. About 10,364 readers pitched in with donations averaging $45, and together they contributed about $467,374 toward our $500,000 goal.

That's amazing. We still have donations from letters we sent in the mail coming back to us, so we're on pace to hit—if not exceed—that goal. Thank you so much. We'll keep you posted here as the project ramps up, and you can join the hundreds of readers who have alerted us to corruption to dig into.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate

Share your feedback: We’re planning to launch a new version of the comments section. Help us test it.