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US deficit is shrinking, for now

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posted on Feb, 21 2007 @ 01:02 PM
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US deficit is shrinking, for now


Source Link: www.csmonitor.com

Despite the ongoing costs of US military campaigns in Iraq and Afghanistan, the outlook for the federal budget has grown substantially brighter.

Tax revenues are rising much faster than spending, according to Treasury Department numbers released last week. The recent trend is strong enough that, were it to continue, the budget could move into surplus in barely a year, one economist calculates.

Already, the federal deficit is shrinking toward about half the size that it has averaged since 1970, when analyzed as a percentage of gross domestic product.

The shift reflects a strong economy, with higher incomes and corporate profits generating a bigger flow of tax revenue. In turn, the Treasury's progress could help the economy by buoying investor confidence in the nation's fiscal position.
(visit the link for the full news article)




posted on Feb, 21 2007 @ 01:05 PM
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Well this is good news. However, this information is old news. We on the conservative side of U.S. politics have been saying this for quite some time at the dismay of our opponents. I have always maintained that the future is a bright one. It will be...



posted on Feb, 22 2007 @ 01:20 AM
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I can not believe nobody is interested in this article. I really thought this would spur some discussion.



posted on Feb, 22 2007 @ 01:31 AM
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I wonder where the extra revenue is coming from? It is good news indeed and I welcome news like this. I just not sure where the money is coming from, I have always heard war time economies are usually growing ones but thaty is because the government begins to employ more of the workforce.



posted on Feb, 22 2007 @ 02:27 AM
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Originally posted by XphilesPhan
I wonder where the extra revenue is coming from? It is good news indeed and I welcome news like this. I just not sure where the money is coming from, I have always heard war time economies are usually growing ones but thaty is because the government begins to employ more of the workforce.


Hey XphilesPhan, I'm an X philes phan too.

However, the money is coming from increased tax receipts...despite the evil Bush tax cuts. You see, as people like me have been saying all along, cutting taxes provides an environment conducive to job creation and business expansion. It's really very basic. Everyone likes to hate business and assume they are only out to rape, pillage, and steal from everyone, but companies do use allot of their profits to expand. Why, you might ask? Again, it is very simple. They want to expand to become bigger to make more profits...which also means more jobs for people who want to put food on their table and support their families. Cutting taxes worked for President Kennedy, President Reagan, and now they work for President Bush. I hope I helped with this post, friend.



posted on Feb, 22 2007 @ 09:13 PM
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MooneyBravo, I agree with you...folks bash the man (Bush) but as Gov of Texas he did a great job (I'm a fmr Texas resident)...I won't sidetrack the post with war talk...but as a business man, he has a head for numbers and you can bet the numbers add up...the dems in Texas had fits with his budgets...but at the end of the day...the state prospered under his leadership.




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