Tuesday, June 13, 2006

Bush May Meet Vow To Halve The Deficit Three Years Early

Investor's Business Daily reported Aided by surging tax receipts, President Bush may make good on his pledge to cut the deficit in half in 2006 — three years early. Tax revenues are running $176 billion, or 12.9%, over last year, the Treasury Department said Monday. The Congressional Budget Office said receipts have risen faster over the first eight months of fiscal '06 than in any other such period over the past 25 years — except for last year's 15.5% jump. The 2006 deficit through May was $227 billion, down from $273 billion at this time last year. Spending is up $130 billion, or 7.9%.

This should make it difficult for the Democrats to continue complaining about the tax cuts (but it won't). If the MSM would report it, it might force them to.


Fool said...

When the deficit started going down under Clinton--AFTER a Republican majority was elected to Congress--the MSM was all over it. To this day, on Wikipedia and other places, you'll see Clinton lauded for "shrinking the deficit."

Think that'll happen this time?

Don Singleton said...

Not a snowball's chance in Hell