Think Markets has an excellent piece on the Fiscal Cliff.
1. Table below shows exactly what gets cut if there is no deal
2 Consequences are stacked in “favor” of tax increases – not spending cuts.
3. Only $136 billion in cuts out of a Fed budget of ~$4 trillion for FY 2013.
4. Tax increases are $532 billion (including Bush tax cuts) — Yes, the GOP agreed to Tax to spending cuts of 4X.
5. Defense cuts are ephemeral; as soon as the US encounter any new war, spending quickly ramps up.
Full chart after the jump . . .
Source: WSJ, Think Markets