Observations on Budget Estimates from the Mid-Session Review
Publication Date: November 2005
Publisher(s): Heritage Foundation (Washington, D.C.)
Author(s): Brian M. Riedl
Keywords: Budget; taxes; spending
The Office of Management and Budget has released its annual Mid-Session Review (MSR) that updates the budget projections from this past February. While the rapid increase in federal revenues shows that the 2003 tax cuts have succeeded, continued runaway spending threatens America's fiscal and economic future.