Obama’s legacy: $20 trillion in debt for the next president

Here are Obama’s desired alternative fiscal policies to avoid the fiscal cliff in order of their effect on the five-year budget as estimated by the CBO:

1. Preserve Bush tax cuts and other tax provisions for everyone except the top 2 percent: Raises the five-year deficit by $2.0 trillion.

2. Drop the fiscal-cliff sequestration of spending and expand discretionary spending by the rate of inflation: Raises the five-year deficit by another trillion dollars.

3. Raise the tax rate on the top 2 percent: Lowers the five-year deficit by $300 billion.

4. Extend enhanced unemployment benefits: Raises the five-year deficit by $200 billion.

5. Do not cut Medicare payment rates to physicians: Raises the five-year deficit by some $100.