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US agency says tax breaks too costly, need review

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Walker said the retirement of the baby boom generation required huge spending growth and massive structural federal deficits. If nothing is done about the problem, balancing the budget by 2040 would require actions as large as cutting total federal spending by 60 percent or raising federal taxes 2.5 times today's level. 'The time has come to reexamine the base of all major federal spending and tax programs, policies functions and activities. We were already deeply in the hole before Katrina hit and now Rita is off the coast' BUSH USED HIS SATURDAY RADIO ADDRESS TO PUSH MORE TAX REBATES TO CORPORATIONS AND WEALTHY...MBA FROM A CRACKER JACK'S BOX?

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