If you look at the 2009 budget projection, you will see an amount that is understated by approximately $15 billion. Why? Because the 2009 deficit does not include tax extenders—tax laws that are scheduled to expire but will be renewed and extended into 2009.

Every year, on a bipartisan and consistent basis, lawmakers renew tax extenders, like the research and experimentation tax credit.

This extender stuff is flat out wrong for two reasons. First, extenders—because of their expiration dates—create uncertainty in ... Log in to view full article.