CBO: Current Law Brings 55% Increase in Annual Spending, $4.25T in New Debt--And Record TaxationBy Terence P. Jeffrey
Dec. 06, 2012
1.Trump Rips Bill Kristol: "All The Guy Wants to do is Kill People and Go to War"
2.UK Home Secretary Theresa May Hails "Benefits" of Sharia Law
3.VIDEO: Telemundo Busted Staging Shot at Anti-Trump Protest
4.Migrants Thank 89-Yr-Old Austrian Man Who Gave Them Euros by Robbing Him
5.The Huffington Post Is What Happens When There's No Men In The Room
6.Is This The Most Fail Interview Of All Time?
7.Angry Birds Movie is Red-Pilled Anti-Immigration Propaganda
8.VIDEO: Trump Mocks Journo Who Says Calling Elizabeth Warren "Pocahontas" is "Very Offensive"
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.