An "Economic Snapshot" offered today by Max Sawicky of the Economic Policy Institute brings home the sobering cost of extending the Bush tax cuts of earlier this decade, measured two ways. It shows that, all other things being equal, despite "out of control" projected growth in Social Security, Medicare, and Medicaid spending, the cost of these benefits in 2017 will be dwarfed by the cost of Bush tax cuts and related revenue policies, excluding interest costs associated with debt payments. It also shows that the revenue depletion caused by extending the tax cuts would increase the budget deficit in 2017 to roughly 4.5 percent of gross domestic product -- see below. A country with budget deficits in this neighborhood would have its credit line severed by the IMF. Such a country would be barred from membership in the European Union. If such the prospect of such a fiscal future for the United States is not unsettling to you, you may want to consider submitting an application for director of the administration's Office of Management and Budget, a position that is currently vacant.