A new years 'Fiscal Cliff deal' named "American Taxpayer Relief Act of 2012" (ATRA 2012) was made in Congress, in the 11th hour on Jan 1st, 2013. The congressmen were given the ATRA 2012 bill at 1:36 AM and they voted on the bill at 1:39 AM . The Congress looked over a 154 page budget bill In 3 minutes, before passing it into law. A bill that contains a pathway for United States' financial future involving trillions of dollars and 300,000,000+ lives.

The new 'Fiscal Cliff deal' dubbed ATRA 2012 makes Bush's Tax cuts permanent for individuals earning less than $400,000/year, for those over it, rates are raised back to 39.6% as it was during Clinton's era. The automatic budget cuts (sequestration) that were agreed during the Debt Ceiling debate of 2011 have been delayed for two months. Obama's temp 2011 Pay-roll tax cuts expired as well, which means $50 less take-home per month for an American earning $30,000/year. The 'Fiscal Year'- used for US Government accounting purposes starts in October, 3 months early of actual calendar year.

Portions of Fiscal Cliff tax increases & budget cuts would be gradual, starting 3 months into FY 2013 and according to Wikipedia projected to result in a 19.63% increase in revenue and 0.25% reduction in spending year-over-year for fiscal year 2013. With the ATRA 2012 signed into law, eliminated the Fiscal Cliff, the numbers have changed and CBO projected a 7.51% increase in revenue and 1.87% increase in spending for fiscal year 2013, illustrated above based on FY 2012 tax receipts & projected spending. US Government's 1st Fiscal Quarter of 2013 (Govt's accounting years start & end in October) finished with a $122 Billion per month public debt growth, which will come out far over a $1 Trillion in 1 year. The US Government also surpassed the Debt Ceiling of 16.394 Trillion on Jan 1st, 2013, and will now continue by ravaging pension & other funds to borrow money from, until Debt Ceiling is lifted once again. The graphic is based on US Government's FY2012 budget of $3796 Billion and CBO's projected Fiscal Cliff' scenario's +19.63% increase in revenue and

0.25% decrease in spending, which is now because of the American Taxpayer Relief Act of 2012 at +7.51% increase in revenue a +1.87% spending increase.



