I blame the tax cuts

[reality_hammer]

Seriously, I do.
WASHINGTON (AP) -- Federal revenue collections hit an all-time high in April, contributing to a further improvement in the budget deficit for the year

Comments

[grassyneal]

Now now, we all know there is no such thing as a Laffer curve..

[reality_hammer]

If only we had increased taxes five years ago, we'd have quadruple the revenues we do now!!!111!1!!!

[morsefan]

Of course, I tend to have a really twisted view of all of this:

Wouldn't the best way to put the federal government out of business be to starve it completely of income?

There is an argument we are sort of doing that with entitlement spending, because there isn't very much discretionary non-defense money out there at this point to play with.

Not that I think that's a bad thing, of course.

[reality_hammer]

Under the current system the only way to starve it would be to repeal the 16th Amendment and not replace it with anything.

Even if another spending bill is not passed the current system calls for the previous year's spending levels to be carried forward automatically.

Over time that would be a great thing because with spending frozen economic growth would balance the budget and then create surpluses which could be used to buy down the debt.

[wingguy]

John Kerry, in his finest Senatorial tones: "When I travel around the country...pause...and see the wreckage of the Bush economy ...pause..."

Tom Daschle: "The Bush tax cuts have actually made this recession worse."

Those guys and Paul Krugman need an infusion of objectivity.

[reality_hammer]

It's so typical. Democrats always claim we are in a recession when a Republican is President. They know a lot of people either won't look up the truth or don't care about the truth.

[sea_sensu_si]

I blame you. Its all YOUR fault!

Crazy libertarians, ruining the world for us all.

[reality_hammer]

I'll make a libertarian out of you yet.