The Amazing Disappearing Tax Revenue
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 . . .