White House Predicts Larger Tax Refunds

Don't believe the hype.

As a result of the summer's tax cuts, the Treasury Department expects the government to mail $195 billion in tax refunds this spring, a $37 billion increase over last year.

Anyone want to tell me again what the deficit was last year? And what it's projected to be this year?

Don't get me wrong--if I qualify for a refund this year, I'll take it and spend it. I'm too poor not to. But let's call this what it really is. This isn't a refund--it's a cash advance on the mightiest credit card of all, the national debt. And the interest rates will only go up from here on out.

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