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AND THE WINNERS ARE???White House declares victoryThe White House issued a "fact sheet" statement Tuesday declaring the fiscal cliff agreement a victory, though the House has yet to vote on the measure."At this make or break moment for the middle class, the President achieved a bipartisan solution that keeps income taxes low for the middle class and grows the economy," the statement says. "For the first time in 20 years, Congress will have acted on a bipartisan basis to vote for significant new revenue.AND THE LOSERS ARE????Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax IncreasesAccording to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.
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