The Phantom Surplus


The Phantom Surplus

January 28, 2000


[New York Times] The Congressional Budget Office's new projections have whetted the appetite of many a lawmaker who feels starved after a decade of fiscal dieting. According to the budget office's estimates, the surplus could be as large as $1.9 trillion over the next decade. With such a large surplus, politicians may be unable to resist the urge to splurge. Tax cuts, prescription drugs for the elderly, beefed-up defense, help for the medically uninsured, expanded aid for education suddenly may all seem affordable.

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