Final Report on Federal Budget: No Big Changes

Posted by accountingweb on Nov 29 1999 88 printer friendly

AccountingWeb has tracked a number of stories over the past few months on Congress and the President's battles over the Federal budget.

Based on recent reports, now that the budget year ended Nov. 20, not balancing the budget really isn't so terrible, after all. Among the focus is how Social Security was protected, albeit concern by Republicans and Democrats on securing the senior vote next year.

Also under tremendous scrutiny was the proposed Republican tax cut of $792 billion. Still, because no major changes occurred, Federal debt continued to decline, something most Americans enjoy.

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?

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