Urbin Report

Thursday, June 14, 2007

Federal deficit shrinking

Not because the government is spending less, the democrats are running true to form and spending even more than the Republicans who got booted out of power for spending too much.

According to yesterday's USA Today (I'm reading the print version):

Federal revenue has grown faster than spending during the first eight months of the fiscal year...
Revenue growth was fueled by corporate profits and low unemployment, which pushed individual income tax collections higher.
...the Congressional Budget Office projects the deficit will be $177 billion, down 28.7% from last year.

Of course, the democrats also want to raise taxes, which will put the breaks on economic growth, and thus halt the growth in federal revenue.