The Chart That Should Accompany All Discussions of the Debt Ceiling

Jul 25 2011, 10:58 AM ET

It's this one, from yesterday's New York Times. Click for a more detailed view, though it's pretty clear as is.

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It's based on data from the Congressional Budget Office and the Center on Budget and Policy Priorities. Its significance is not partisan (who's "to blame" for the deficit) but intellectual. It demonstrates the utter incoherence of being very concerned about a structural federal deficit but ruling out of consideration the policy that was largest single contributor to that deficit, namely the Bush-era tax cuts.