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Sunday, May 23, 2010

Taxing us to death!

New York (CNNMoney.com) - Congressional budget scorekeepers said that a grab-bag bill of spending and tax measures to be taken up this week would increase federal deficits by $134 billion over a decade.

The bill, which is likely to become a flash point in the debate over the federal debt, would raise $40 billion worth in additional revenue, according to estimates by the Congressional Budget Office and the Joint Committee on Taxation.

But that's not enough to fully offset the $174 billion in additional federal outlays that would occur as a result under the bill. CBO released its cost estimate late Friday.

So they are going to spend 134 Billion to make 40 Billion? His financial adviser should be fired!

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