Further Context on the Fiscal Cliff Deal


And so you see that Obama's re-election has meant the biggest increase in revenues to the federal government since 1968. That would not have happened under Romney.

$600 billion in tax hikes, while protecting the tax cuts for the lowest brackets. In fact, according to Krugman, if the president had been able to stick to the $250,000 income threshold, it would've only generated an additional $200 billion in revenue -- “not crucial” in Krugman's words.

And Medicare and Social Security are untouched, except for perhaps gaining additional revenue due to the expiration of the payroll tax holiday.

Please someone explain to me how this is bad news for Democrats and liberals.