Posted by Brian at 3:45 PM
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.