From the article: “But Republicans oppose any stimulus measures or long-term increases in tax revenues.” And herein lies the problem.

From NY Times:

VINEYARD HAVEN, Mass. — The Congressional Budget Officesharply reduced its projection of total deficits over the next decade after the recent deficit-reduction deal between President Obama and Congress, yet it warned on Wednesday that the extension of Bush-era tax rates and other policies would more than offset those savings.

The report from the nonpartisan budget office underscores the high stakes for a special 12-member Congressional committee created to figure out by December how to achieve up to $1.5 trillion of the $2.4 trillion in maximum 10-year savings promised by the deal.

Read full story here.