WASHINGTON -- There is some very good news in the battle to slay the budget deficit. It is being cut in half well ahead of forecasts, offering fresh evidence that reducing federal tax rates does not undermine government revenues. The Bush administration has a lot of problems on its plate, both foreign and domestic, but the budget deficit is not one of them. This is one area where President Bush's policies have been a resounding success, though don't expect to see this reported on the nightly network news shows.
The Office of Management and Budget announced last week that the annual deficit, estimated at $400 billion just a few years ago, will be $205 billion by the end of this fiscal year (which ends in September).
http://www.townhall.com/columnists/DonaldLambro/2007/07/16/the_incredible_shrinking_deficit
2007-07-16
02:05:10
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