What's Driving Projected Deficits?
The CBPP has updated its chart (full report) showing the source of the budget deficit, "and they continue to find that these deficits stem overwhelmingly from the economic downturn, the tax cuts first enacted under President Bush, and the wars in Iraq and Afghanistan." But going forward, it's the Bush-era tax cuts that make the largest contribution:
Posted by Mark Thoma on Thursday, October 11, 2012 at 12:24 AM in Budget Deficit, Economics, Iraq and Afghanistan, Taxes |
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