OIL AND THE U.S. BUDGET DEFICIT

They're back. Fretful U.S. legislators once again are scrambling for money. They seem to think that if they raise taxes here and there, a little at a time, voters won't notice. Last year they raised taxes-a little here, a little there-by $165 billion during 5 years. It was supposed to reduce the federal budget deficit by $500 billion in the same period. Voters weren't supposed to notice.

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