(CNSNews.com) – Legislation to extend myriad tax breaks, unemployment benefits and other spending programs currently before the House would add $115 billion to the nation’s $13 trillion national debt in only two years, according to the Congressional Budget Office.

That bill, the American Jobs and Closing Tax Loopholes Act (H.R. 4213), would ultimately add $84 billion to the debt by 2020, a recent CBO report said. That bit of accounting magic is achieved because House Democrats delayed tax increases until after 2011 and double-counted an increase in the excise tax on oil, according to an analysis provided by the ranking Republican on the House Budget Committee, Rep. Paul Ryan (R-Wis.)...