UPDATE: The Anchoress emails: “That deficit graph is going to go viral. This piece in the NY Times from 2006 reinforces it.”
Yeah, note this excerpt:
An unexpectedly steep rise in tax revenues from corporations and the wealthy is driving down the projected budget deficit this year, even though spending has climbed sharply because of the war in Iraq and the cost of hurricane relief.
Well, that was back when the Bush tax cuts were kicking in. Now, in the Age Of Obama, the “unexpectedly” language is in regard to very different kinds of developments . . .
Posted by Glenn Reynolds
http://pajamasmedia.com/instapundit/105058//
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