[staytrue]

revenues have increased but spending has far outpaced any revenue growth.

so why is the deficit declining ?

[thinkthenpost]

The FY 05-06 deficit looks like it will come in lower than originally projected, finally the money freed up in the tax cuts are coming around in larger tax revenues like we all knew it would, my heartburn is for FY 01-02, FY 02-03, FY 03-04, and FY 04-05 spending grew much faster than revenue and the deficit grew at an obscene rate.