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Wednesday, October 21, 2009

The Other Trillion Dollars

Both Governor Lynch and President Obama like to blame their budget problems on the recession. They didn't want to pass unbalanced budgets; it's just that tax revenues are coming in so slowly. Over at National Review, Veronique de Rugy shows that falling revenues did account for $419 billion of this year's $1.4 trillion deficit. But the other billion comes from spending.

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