Just How Big Is That Surplus?

The ifs and maybes behind the CBO's $5.6 trillion estimate

Tax-cutters are on a roll. Federal Reserve Chairman Alan Greenspan blessed their efforts on Jan. 25. Even better, on Jan. 31 the Congressional Budget Office announced that the federal surplus over the next decade would reach a stunning $5.6 trillion. That's $1 trillion more than CBO figured just six months ago--and more than enough money for Bush's $1.6 trillion tax cut.

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