Over the past 50 years regardless of which party was in power, federal tax receipts have generally provided 80 to 90 percent of the money needed for the budget. Thus, the government has borrowed only the remaining fraction. But this year, it will need to borrow 45 percent, virtually half, of what it is projected to spend. Just think.
Saturday, March 21, 2009
Full Faith and Credit
Over the past 50 years regardless of which party was in power, federal tax receipts have generally provided 80 to 90 percent of the money needed for the budget. Thus, the government has borrowed only the remaining fraction. But this year, it will need to borrow 45 percent, virtually half, of what it is projected to spend. Just think.
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