Sunday, July 16, 2006

In the recent OMB report, I find it ridiculous that individual & corporate income tax revenues came in at +66% and +55% respectively above February estimates. It's clear that the administration has taken up the practice of low-balling tax revenue estimates and high-balling deficit projections so that they can bask in the glory when the former comes in much higher than expected versus already bogus estimates and the latter comes in much lower.

In addition, the administration does not include the cost of the Iraq war or war on terror -- isn't that a HUGE omission?

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