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The Amazing Disappearing Tax Revenue

Posted By Barry Ritholtz On August 5, 2003 @ 2:11 pm In Finance | Comments Disabled

The Amazing Disappearing Tax Revenue [1]
Officials, Economists Ponder Whereabouts

by Jonathan Weisman
Washington Post Staff Writer
Saturday, July 26, 2003; Page E01

EXCERPT: The exploding federal budget deficit has triggered fierce recriminations among politicians over who is to blame, but in Washington’s less-partisan budget circles, the White House’s projected $455 billion deficit for 2003 has underscored a growing mystery: Where has all the tax revenue gone?

“No one knows,” said Douglas Holtz-Eakin, the director of the nonpartisan Congressional Budget Office. “Not answering the question is just admitting our ignorance.”

This would be funny, if it wasn’t so pathetic . . .


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[1] The Amazing Disappearing Tax Revenue : http://www.washingtonpost.com/ac2/wp-dyn/A48107-2003Jul25?language=printer

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