The federal deficit will fall to $205 billion in the fiscal year that ends in September, a considerably smaller figure than earlier estimates and one that is less than half of the peak deficit, in 2004, according to new White House projections…. White House budget officials have been predicting for months that this year's deficit would fall short of the $244 billion projected in February because of stronger-than-expected revenue collections. (Washington Post, Wednesday)
On the backs of the taxpayers.
FEE Timely Classic
Why Cut Taxes? by Sheldon Richman