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'Fiscal cliff' bill spends $330 billion more

Posted By -NO AUTHOR- On 01/01/2013 @ 2:15 pm In Front Page,Money,Politics,U.S. | No Comments

(WASHINGTONTIMES) — The “fiscal cliff” deal that was designed to save money actually includes $330.3 billion in new spending over the next decade, according to the official estimate the Congressional Budget Office released Tuesday afternoon.

CBO said the bill contains about $25.1 billion in new cuts, but those are swamped by the new spending on extended unemployment benefits for the long-term jobless and other new refundable tax credits that President Obama fought for.

Of those cuts, only $2 billion are scheduled to take effect in 2013.

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