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Mid-Session Budget Review Shows Surging Tax Revenues

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Publication Date: July 2007

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): Brian M. Riedl

Series: WebMemo

Topic: Economics (Economic conditions)

Keywords: Budget; tax cuts

Type: Brief

Coverage: United States

Abstract:

Though a rapid increase in federal revenues shows that the 2003 tax cuts have succeeded in boosting economic activity, the tsunami of Social Security, Medicare, and Medicaid spending still threatens America's fiscal and economic future.