The Economist graph from the Cato Institute
Of particular note, I liked the comment by Mr Edward of the CATO Institute:
When will we ever see a graph from the Obama administration showing the claimed [deficit reduction] to demonstrate that the above graphs are somehow "wrong". Probably when hell freezes over.Wait a minute, those bars are rising! Spending isn’t being cut at all. The “cuts” in the deal are only cuts from the CBO “baseline,” which is a Washington construct of ever-rising spending. And even these “cuts” from the baseline include $156 billion of interest savings, which are imaginary because the underlying cuts are imaginary...
The federal government will still run a deficit of $1 trillion next year. This deal will “cut” the 2012 budget of $3.6 trillion by just $22 billion, or less than 1 percent.
PS: Fixed text in brackets/