CBO: Current Law Brings 55% Increase in Annual Spending, $4.25T in New Debt--And Record TaxationBy Terence P. Jeffrey
Dec. 06, 2012
Newspaper Fashion Writer: Melania's White Dress is "Scary" Racist
German Officials Respond to Migrant's Axe Attack by Calling for 'Mandatory Islam Classes'
French TV: Muslims Are The Real Victims of Nice Attack
Finland: Man Thrown in Prison For Using "Excessive Self-Defense" Against Home Invaders
Obama's Half-Brother: I'm Voting Trump!
If Congress allows current laws signed by President Barack Obama to stand and follows the fiscal path they have set for the next decade, federal tax revenues will rise to a record level as a percentage GDP, according to the Congressional Budget Office, but annual federal spending will also increase by 55 percent and continuous deficits will require Congress to lift the federal debt limit by another $4.25 trillion even as the government rakes in unprecedented tax revenue.