August 03, 2009
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.
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