The fiscal cliff negotiations, in one chart

A while back, we posted a chart comparing the offers presented by President Obama and House Speaker John Boehner in the fiscal cliff talks. Since then, details of Boehner's "plan B" option became clearer, and Vice President Biden and Senate Majority Leader Mitch McConnell hashed out a final deal and got it passed. So here's that same chart, with the most fleshed-out version of plan B, and the final plan, included:

Click on the chart to see a larger version. The ultimate deal contained no spending cuts (save an offset for the Medicare "doc fix"), $632 billion in new revenue ($12 billion of which comes from an IRA gimmick) and $30 billion in stimulus spending in the form of extended unemployment insurance (UI) benefits. That's a lot less revenue than Obama wanted and Boehner offered — and a lot less stimulus than Obama initially demanded — but it's also a lot less spending than either side wanted to cut initially.

UPDATE: Thanks to Marc Goldwein at the Committee for a Responsible Federal Budget for clarifying the spending and revenue figures in the final deal.

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