Posted on 04/25/2023 1:39:16 PM PDT by ChicagoConservative27
The federal government is pulling in less tax revenue than expected, prompting concerns the early numbers could leave far less time for Congress to strike a deal to avoid a default on the national debt.
Before tax figures started rolling in after last week’s filing deadline, Congress appeared to have until sometime in late July or August to pass legislation to raise or suspend the debt limit. But some experts have warned that a major shortfall in tax revenue means the U.S. government could run out of cash as early as June.
(Excerpt) Read more at thehill.com ...
The revenue collected is still sufficient to avoid a credit default. We have enough money to pay for interest on our debt.
Statement correct but need 3digit iq to understand it. We are #@$&#
The Hill AKA The Rat’s mouthpiece.
Make it fast!
Who hasn't heard the old saying "don't count your chickens before they're
hatched?" Counting on future tax revenue is akin to a Ponzi scheme.
How about that... Money doesn’t just appear out of thin air. Taxes are on profits. When there are no profits there is no tax revenue.
Simple solution...RAISE TAXES!!
On another thread the discussion was that “theY” are devious.
In government bookeeping there is a lot of money designated for projet A, proje B, etc. but not actually spent. There are adjustments that are very big. Much COVID, appropriated money from past years is not yet spent. It is very easy to game the books. It will take ACLJ 2 years of FOIA to see those books.
Would it be shocking? Or Business as usual for team BIDEN to do this?
Profit taxes and payroll taxes. Eventually liberals will learn that their lucrative pension plans rely on private-sector profits to exist, let alone flourish. Hopefully the private sector will survive.
Nice economy you have there, Biden. During your first year in office it was going so great guns that tax revenue was higher than spending...oops.
I hope so too.
Uh...no.
Don’t worry, eightysix thousand new IRS agents can bump the numbers up some…
Remember when the economists and “experts” said Trump’s tax cuts would cause a reduction in revenues but instead revenues went up? Then they said Biden’s policies would increase revenues but instead they have caused revenues to go down. At the same time, spending continues to rise regardless of all the “money saving” legislation passed by democrats. Promises, promises, that’s all we ever get!
May I suggest that we need a new class of economists and experts?
So have they been lying about the unemployment numbers?
Guess I better get my estimated taxes in...
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