Obama's idea of 'compromise' Rick Moran January 1, 2013 What was McConnell thinking? The fiscal cliff deal passed by the Senate contains $1 in spending cuts for every $41 in tax hikes. Brietbart: According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion-a 41:1 ratio of tax increases to spending cuts. When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cuts-cuts that never ultimately came-they did so at ratios of 1:3 and 1:2. Read more: Blog: Obama's idea of 'compromise'