August 03, 2009

But I'm sure they'll make it up in volume.

Sure they will.

The recession is starving the government of tax revenue, just as the president and Congress are piling a major expansion of health care and other programs on the nation's plate and struggling to find money to pay the tab.

The numbers could hardly be more stark: Tax receipts are on pace to drop 18 percent this year, the biggest single-year decline since the Great Depression, while the federal deficit balloons to a record $1.8 trillion.

Anyone think the deficit will be only $1.8T?  And do you really think the ChiComs will continue our credit-binge if the deficit breaks, say, the $2T mark?

Because I sure as shit don't.

Posted by: DocJ at 02:09 PM | No Comments | Add Comment
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