Budget Deficit Blowout! Everything must go!

[reality_hammer]

The federal budget deficit continues to shrink in the face of gushing tax revenues.
WASHINGTON (AP) - The federal budget deficit estimate for the fiscal year just completed has dropped to $250 billion, congressional estimators said Friday, as the economy continued to fuel impressive tax revenues

Comments

[jimmy1128]

An excellent post. A few months back a good friend of mine was "outraged" at what Bush had done regarding budget deficits. It was clear she had copied and pasted some info from a lefty blog. I asked her what a good and proper level of National Debt was since it is almost impossible for our mind to grasp the idea of a pile of dollar bills stretching to be moon (or whatever). Of couse she really didn't know, she had just gotten emotionally worked up by the a lefty rant combined with her general dislike of Bush. I told her I was not a fan of huge budget deficits by any means, but be wary of lefty blogger using budget numbers they don't fully understand as a means to trash the president. I knew they would be silent as the tax cuts continue to bring in more federal revenues. (I love to see the Laffer Curve in action).

The strenght of this economy is indeed impressive, even if the global pressure on the value of labor keeps wages from taking off too. Of course that is where the MSM will keep thier focus.