Federal Deficit Sharply Lower.......Dems in shock....
The federal deficit is running sharply lower through the first eight months of this budget year as growth in revenues continues to outpace the growth in spending. The Treasury Department said that the deficit through May totaled $148.5 billion, down 34.6 percent from the same period a year ago.
Meanwhile, on the other side of the island.....
Democratic critics, however, contend that Bush's spending blueprint was based on unrealistic assumptions and left out major spending items such as the full costs of the Iraq war. They also argue that the current improvement in the deficit will be only temporary as the 78 million baby boomers retire, pushing spending on Social Security and Medicare up in coming years.
And it was the same Democratwit critics who said in 2001 that tax cuts would result in less revenue and higher deficits.
Reagan had it right when he said, "The problem is not that people are taxed too little, the problem is that government spends too much. "
“A political party cannot be all things to all people. It must represent certain fundamental beliefs which must not be compromised to political expediency or simply to swell its numbers.” - Ronald Reagan
"To the United Nations, and the New York Times, charity apparently is defined by how much a government offers to those in need from the money its citizens have coughed up in order to stay out of jail." - Unknown
"Liberalism: Classic projection of a liberal's faults onto those they despise the most." - Chris Muir