August 13, 2007

Thank you, President Bush!

AP, WASHINGTON - The federal deficit this budget year is running sharply lower, driven by record revenues pouring into government coffers.

The Treasury Department reported yesterday that the government produced a deficit of $157.3 billion for the budget year that began Oct. 1. That's a substantial improvement from the red ink of $239.6 billion produced for the corresponding 10-month period last year.

The lower year-to-date deficit was the result of a record $2.12 trillion in revenues. Spending, however, was higher - $2.27 trillion, which also marked an all-time high.

The White House predicts that the deficit this year will drop to $205 billion.

But the nonpartisan Congressional Budget Office predicts that the government will produce even less red ink this year. It recently said the deficit will be "toward the lower end" of a range of $150 billion to $200 billion...

Who did this? The American people, who will always work wonders if only they are allowed to. And the big moment of the current chapter was in the year 2001, when George W Bush was first elected. A contested election, with Democrats controlling the Senate, with the economy heading south in the ruins of the Clinton bubble...well...I certainly didn't expect much of anything to happen!

And what happened? George Bush said, "I'm the President. And we need tax cuts. Congress, get busy and pass them." Right then, like the first week he was in office. And they did! The poor booby Dems were so unused to someone who believed in something that they just did what they were told. Truly I tell you, that was the peak (politically speaking) moment of my life. And there were more tax cuts to come. And they worked! And now we have one of the best economies in history. with years of steady growth , low unemployment, almost nonexistent inflation....So good that the slime-animals of our press have to stay up late thinking of ways to talk down our prosperity. "The Dow hit new highs today, but some analysts expressed concern that weak demand for pillow feathers means a housing slow-down is on the horizon."

Posted by John Weidner at August 13, 2007 5:59 AM
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