I told you this was going to happen.
Page 1 of 1
I told you this was going to happen.
WASHINGTON - 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.
Other figures in an Associated Press analysis underscore the recession's impact: Individual income tax receipts are down 22 percent from a year ago. Corporate income taxes are down 57 percent. Social Security tax receipts could drop for only the second time since 1940, and Medicare taxes are on pace to drop for only the third time ever.
http://www.msnbc.msn.com/id/32275055/ns/politics-more_politics/
SamCogar- Number of posts : 6238
Location : Burnsville, WV
Registration date : 2007-12-28
Similar topics
» It was bound to happen
» Has anyone told the Honey Bees about this?
» Shootings didn't happen When 63 Million Watched Walter Cronk
» We told you so- and it's confirmed yet again
» Has anyone told the Honey Bees about this?
» Shootings didn't happen When 63 Million Watched Walter Cronk
» We told you so- and it's confirmed yet again
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum