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Friday, April 27, 2007
1Q07 GDP Growth Estimate 1.3%; Revenue Implications?
Returning to our long-standing concern about the 5-7 percent, five-year projections of federal revenue growth, we hereby put down a marker, in light of BEA's GDP growth estimate of 1.3 percent for the first quarter of 2007, released today.
We will return to the question of the plausibility of the 5-7 percent revenue growth figures offered by the president, Congress, and even the CBO in about three weeks' time, when the CBO issues its next Monthly Budget Review.
Posted by Dana Chasin
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