In case you were interested in what Congress just did to the deficit by extending the 2% cut in the Social Security payroll tax, read this from the Director of the Congressional Budget Office (CBO):
According to CBO’s and JCT’s estimates, enacting H.R. 3630 would change revenues and direct spending to produce increases in the deficit of $101.1 billion in fiscal year 2012 and $89.3 billion over the 2012-2022 period. The bill would reduce revenues by $77.6 billion over the 2012-2022 period and increase direct spending by $11.7 billion over that period, according to CBO’s and JCT’s estimates
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