Rising Tide Lifts Government's Boat
The Bush Boom continues. Peter Wehner notes:
The U.S. federal government ran a monthly budget surplus of $177.67 billion in April. According to the Treasury Department, the U.S. government ran a budget deficit of $80.75 billion for the first seven months of fiscal 2007 (October through April). That is down 56 percent from the fiscal year-to-date deficit a year earlier.For the first seven months of fiscal 2007, receipts totaled $1.505 trillion -- up 11 percent from the same period in fiscal 2006. The Congressional Budget Office now expects the deficit for all of 2007 to total between $150 billion and $200 billion -- significantly below previous expectations and well below the historical 40 year average (measured as the deficit as a percentage of the GDP). As a reference point, the deficit in 2004 was $413 billion.
Another Democratic talking point is rapidly fading away. It makes you wonder what they would do without Iraq.
