budget deficit has fallen from projected amount. is this good for president or congress?

Question

Washington
Federal Budget Deficit Falls
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By THE ASSOCIATED PRESS
Published: October 12, 2007
The Bush administration reported that the federal budget deficit fell to $162.8 billion in the budget year just ended, the lowest amount of red ink in five years. The administration credited the president’s tax cuts for helping generate record-breaking revenues but warned of an approaching “fiscal train wreck” unless Congress dealt with unsustainable growth in Social Security, Medicare and Medicaid spending. The deficit for the 2007 budget year, which ended Sept. 30, was 34.4 percent lower than the $248.2 billion deficit recorded in 2006. It was $81 billion lower than the administration had projected in February.

Answer 1

It's good for whichever side has the best political spin machine. The D's will claim it, as they control Congress; but then ask them:

Were they responsible for the budget deficit build-up during the Reagan years when they controlled Congress?

Were the R's responsible for the budget surplus during Clinton's last years when they controlled Congress?

My guess? The only one they will claim true is your question.

Answer 2

It's good for Congress, specifically the Democrats. The deficit reduction occurred while both houses were controlled by the Democrats. When the Republican party controlled both houses and the White House, the deficit grew. This allows the Democrats, rightly or wrongly, to claim they are more fiscally responsible than the Republicans.

Answer 3

It is good for the country. What is bad is that we continue to have deficits. Congress continues to spend more money than taxes bring in. Too bad we cannot find a way to rein in the spending.

Answer 4

Its good for neither....a deficit is a deficit

If your wife only spent $100 dollars more than you earned this week instead of her usual $200, would that be good for you?