Sometimes You Should Look Up the Numbers, Fiscal “Cliff” Edition

Bob Murphy crunches the numbers on the “fiscal cliff” and the result is rather shocking.  I can’t say I’m surprised this is the case, but I’m surprised at the enormity of the result.  Based on CBO projections, going over the dreaded fiscal cliff would result in such terrible consequences as a dramatic lowering of the deficit (nearly cutting it in half the first year, and then again in the second) without any significant cuts in spending whatsoever, primarily through increased revenues.

Is this not exactly what Obama and the Democrats claim to want?  So why all the fearmongering?  There’s something fishy going on here…