Thursday, June 16, 2005

Federal Tax collections up--but for how long?

"The Incredibly Brief Tax Windfall" by Howard Gleckman of Business Week (http://www.businessweek.com/bwdaily) reports that tax collections are up by almost $200 billion over 2004. Sadly, expectations are that increased federal spending (highways, energy, Medicaid/Medicare) will swamp the good collection news and leave the debt level uncomfortably high.

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