May 04, 2004
It's the Economy?

Oh dear, this just won't do:

Smaller-than-expected tax refunds and rising individual tax receipts will pare back federal borrowing significantly for the first half of this year and could reduce the $521 billion deficit projected for the fiscal year by as much as $100 billion, Treasury and congressional budget officials said yesterday.

I have always believed federal deficits were linked to overall economic health, not any particular presidential policy. Bill Clinton's tax hikes helped the government, at first, but it was the booming economy and the concomittant rise in tax receipts that gave us the surpluses. George Bush's tax cuts certainly increased the deficit, but it was the boom going bust that really ran the government into the red.

Of course, this is nothing more than cheerleading from a partisan wacko brainwashed years ago by the Great Right Wing Conspiracy. But you have to ask yourself... if the score keeps rising on games people care about, who's going to pay attention to the other side's "rah-rah's"?

Posted by scott at May 04, 2004 12:02 PM

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