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June 01, 2004
So what really happened to the surplus?
A report just out by the Joint Economic Committee gives some interesting insight into what happened to the surplus. For a quick overview this chart shows that increased spending and a weak economy are the two main culprits. Here is the full report. Even without tax cuts there would now be a deficit. And the stimulus effect of the cuts should more than offset there short-term impact over the next several years.
Posted June 1, 2004 05:44 PM
at Belmont University in Nashville, Tennessee. He consults with a variety of businesses on start-up and growth related issues, and with larger corporations on re-establishing entrepreneurial cultures within their organizations. Dr. Cornwall's current research interests include entrepreneurial finance and entrepreneurial ethics. He has authored or co-authored four books.
