Next?

[Ghoulish Delight]

Originally Posted by Nephythys

Because for some people it never will be-

Yeah, the people who read the whole article.

But many independent analysts cautioned that the improvement, though notable, could prove ephemeral and that it did little to eliminate much bigger fiscal problems just over the horizon. "Lawmakers who allow themselves to be lulled into thinking that the economy is growing its way out of the deficit," wrote Edward McKelvey, an economist at Goldman Sachs in New York, "are unlikely to support the painful measures needed to reach a more lasting solution."

For one thing, analysts note, federal spending has continued to climb rapidly, about 7 percent this year. Despite cutbacks in many domestic programs, spending has surged for the war in Iraq as well as in certain benefit programs providing health coverage.

In addition, while a lot of the increase in tax revenue flows from the improving economy and higher incomes, part of the jump stemmed from a special factor: the expiration of a temporary tax break that allowed companies to write off their investment in new equipment much more rapidly than normal.