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

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.


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.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

payment methods

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly 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