The federal government will need to either cut spending or raise taxes down the road to pay for extending President Bush's recent tax cuts, the Treasury Department said in a report released yesterday, dismissing the idea popular with many Republicans that such sacrifices can be avoided. (Washington Post, Wednesday)
Spending is the truer measure of the government's burden
FEE Timely Classic
Undertaxed or Overspent? by E. C. Pasour, Jr.