|
CBO: Current Law Brings 55% Increase in Annual Spending, $4.25T in New Debt--And Record TaxationBy Terence P. JeffreyCNS News Dec. 06, 2012 |
Popular .jpg)
Swedish Journalist Who Worked To Demystify No-Go Zones Gets Shot In No-Go Zone
Canadian PM Justin Trudeau Says All Men Should Be Feminists, Calls For End to 'Bro Culture'
Here's The Source Of The 'End-of-World Prediction' That Interrupted TV Broadcasts in Orange County
McCain, Graham Move Towards Banning RT From U.S. Airwaves
Fake Hate? 'Trump Rules' & Poorly Drawn Swastikas Spray-Painted On Monument In Milwaukee
 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. Read More |
