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DeficitsNY Governor Proposes 137 New State Fees and Taxes17 December 2008 - 12:44pm
Treasury Reports $56 Trillion in Unfunded Liabilities, Rep. Cooper Calls for Commission16 December 2008 - 12:42pm
Maya MacGuineas, President of The Committee for a Responsible Federal Budget, called for a reform of entitlement programs, and warned that without such reforms "it's out of the frying pan and into the fire."
Goldman Sachs: Deficit Going Over $1 Trillion9 December 2008 - 2:24pm
Although two months is usually a thin reed on which to base budget projections for the full fiscal year, the data to date strongly suggests that the deficit will easily surpass $1 trillion no matter how TARP assets purchases ultimately affect the calculation. CBO: First Two Months of FY2009 Post Larger Deficit than All of FY20075 December 2008 - 2:08pm
The deficit through November this year is $253 billion higher than the corresponding period in 2007. In addition to higher rates of government spending in social insurance, defense spending, the TARP, and the "other spending" category, the report also shows reduced receipts from individual and corporate income taxes. |
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