NBC News Video: The Fleecing of America

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January 6, 2013

by Lisa Myers

VIDEO

Cutting the deficit – or raising money for projects?
With the nation’s debate at nearly $16.5 trillion, increasing at $140 million an hour, the White House and Congress agreed to increase taxes last week. But despite the rhetoric about cutting the deficit, much of that money will be spent on special projects. NBC’s Lisa Myers reports.

Segment features CTJ's Bob McIntyre discussing the cost of the business "extenders," loopholes and cuts for major industries tacked on to the eleventh hour fiscal cliff tax deal.