The federal deficit is running sharply lower through the first eight months of this budget year as growth in revenues continues to outpace growth in spending.
Compared to the same period a year ago revenue gains are up 8 percent while federal spending is up at a slower pace of 2.5 percent.
Hang on a second. Hold the phone.
The gumbmint is spending only 2.5 percent more this year when compared to last year? Hell, that’s *less* than the inflation rate. That’s also based, you know, on the prior Congress’ budget plan.
Does Lou Dobbs know about that? Do the Internet’s spending activists know about that? Um, do *any* of those people actually work for a living???
The federal budget was in surplus for four years from 1998 through 2001.
Waaaaait a minute. We had deficits all the way through 1998?
Did the media know about that? Hell, when Clinton ran for re-election I was so hypnotized by the media’s rhythmic chanting about how great the economy was I actually believed free money and candy were falling from the clear blue skies.
In the budget President Bush sent to Congress for fiscal 2008 the White House projected the government can return to a surplus by 2012 even if all the GOP’s first-term tax cuts are made permanent.
Ah, yes. But keep in mind conservatives committed political suicide last November.
Although media/Democrats are not stupid enough to let all those tax cuts expire — people who participate in our democracy tend to get upset when their taxes are raised — there’s no chance that all of those various tax breaks will be extended, much less made permanent.
No chance in hell.
Source: This AP article.