The TaxProf notes a Congressional Budget Office report showing that as fast as Congress is spending our tax money, we're sending them even more. In the first seven months of the current fiscal year (October-April), Federal spending is up $83 billion (to $1.537 trillion), but tax receipts have risen $137 billion (to $1.353 trillion). If experience is any guide, Congress is up to the job of catching up on the spending.
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