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“BUT...BUT...WE DIDN’T EVEN GET TO RAISE TAXES YET!”



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The Office of Management and Budget announced today that the fiscal 2007 federal budget deficit will come in at $205 billion, $39 billion lower than originally projected. (The Congressional Budget Office foresees a much lower deficit of $177 billion.) Note that t he deficit is less than half what it was in 2004, when President Bush promised to halve it by 2009.   Is this a good thing, or is that the sound of the middle class being crushed by the Alternative Minimum Tax?



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