August 4, 2009

A GREAT TIME TO BE THE PARTY OF "NO":

Federal tax revenues plummeting (STEPHEN OHLEMACHER, 8/03/09, Associated Press)

The recession is starving the government of tax revenue, just as the president and Congress are piling a major expansion of health care and other programs on the nation's plate and struggling to find money to pay the tab.

The numbers could hardly be more stark: Tax receipts are on pace to drop 18 percent this year, the biggest single-year decline since the Great Depression, while the federal deficit balloons to a record $1.8 trillion.

Posted by Orrin Judd at August 4, 2009 10:18 AM
blog comments powered by Disqus
« DAREN'T HOOT AT THE HUMORLESS: | Main | AS MICHAEL LIND COULD TELL HIM...: »