Posted on 10/06/2006 10:19:40 AM PDT by West Coast Conservative
The federal budget estimate for the fiscal year just completed dropped to $250 billion, congressional estimators said Friday, as the economy continues to fuel impressive tax revenues.
The Congressional Budget Office's latest estimate is $10 billion below CBO predictions issued in August and well below a July White House prediction of $296 billion.
The improving deficit picture _ Bush predicted a $423 billion deficit in his February budget _ has been driven by better-than-expected tax receipts, especially from corporate profits, CBO said.
Heh...not nearly as entertaining as this was...but hey, no hard feelings!
(I'm waiting for the apologies from the FR naysayers............think it'll come? :)
Even us old people spend more time here having fun than doing the things we're supposed to be doing. :)
Much like the klinton kool aid drinkers, there are republicans who will never admit they've been wrong about our President.
Haha...its all fun and games until mommy and daddy see the report card...
In fairness to me, my school was closed yesterday due to a "terroristic threat"...so needless to say my workload was pretty light...
I believe the President has 88% approval among Republicans........who knows, maybe higher by now.
The angry minority all seem to show up here (at least until they get banned).
Now HERE is a story that will NOT make the Sunday Political Talk shows...EVER.
It's like drinking poison........and you may not ever recover.
I suppose. Its like reading The Onion, but funnier, because those people actually believe the insanity coming out of their mouths. That said, I will visit it on occasion and most of the time will feel like I need a shower after a few minutes of reading it.
Oh no, the world's basic premis for a "weak" US dollar is now wrong, therefore, the dollar will become stronger against all currencies. This means the giant sucking sound you hear is imports, investments and democrats whinning about lost jobs.
Damned tax cuts. (sarc)
Those people are insane.......and many of them are just plain evil
And yes, showers are in order following the reading of their bilge.
Those darn evil greedy corporations paying their taxes. Shame on them.
Good post. All govt legislators should be aware of the Laffer curve, but democrats are immune to common sense.
The tricky part, I think is to know whether we're in the first part or the second part of the tax-rate axis. It also shows that we cannot have very low tax rates either.
a libertarian friend told me that 70% of the budget is entitlements and social spending.
There are 2 components to the equation. Income and tax rate. Our side believes in increasing the revenue by clearing the path for people to earn more. The other side would rather increase the rate to increase revenue and also use the rate to punish those who earn "too much". We must understand that the curve is dynamic, not static. The lower the tax rate, the more income can be produced by tax payers. I support the philosophy that takes the rate as close to 0% as it can go. Not the other direction.
The GOP must get this great news out to the public any way they can. We know the MSM isn't going to carry Republican water.
Another year of lower annual deficits, lower unemployment, higher stock markets, higher wages, and more people owning their own homes.
Of course, in the thick of things, people will b!tc# and whine about it not being enough, yada, yada, yada...but History...History will recognize our Amazing Age.
Oh, and no new 9/11 attacks in more than 5 years. Methinks a few things are being done properly.
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