Posted on 10/11/2006 7:25:30 AM PDT by Sub-Driver
Federal deficit now lowest in 4 years
By MARTIN CRUTSINGER, AP Economics Writer 4 minutes ago
The federal budget deficit, helped by a gusher of tax revenues, fell to $247.7 billion in 2006, the smallest amount of red ink in four years.
The deficit for the budget year that ended Sept. 30 was 22 percent lower than the $318.7 billion imbalance for 2005, handing President Bush an economic bragging point as Republicans go into the final four weeks of a battle for control of Congress.
Both spending and tax revenues climbed to all-time highs. The sharp narrowing of the deficit reflected the fact that revenues climbed by 11.7 percent, outpacing the 7.3 percent increase in spending.
The 2006 deficit was far lower than the $423 billion figure the administration had projected last February and also represented an improvement from a July revised estimate of $295.8 billion.
It was the smallest deficit since a $159 billion imbalance in 2002, a shortfall that came after four straight years of budget surpluses, the longest stretch that the government had finished in seven decades.
Since that time, the government has recorded three of the biggest deficits in history in dollar terms including an all-time record of $413 billion in 2004.
The reason for the improvement this year was the big jump in revenues, propelled by strong economic strongth.
(Excerpt) Read more at news.yahoo.com ...
Letting AL Qaida "overrun" us is the alternative to deficits?
Nice conservative principles we are showing here!
I'm deeply hurt that you don't approve of what flags I fly.
Libby PA and Sir Gawain are not conservaitives, they do not even play one on TV. They are here trying to make the case for a change. It will not work though.
"What do you think will happen with a Pelosi house and a Reid senate??????"
I will answer this with another question, "Why has government spending gone up at a much greater rate with a republican presidency and congress than anytime since WWII?" I don't think Pelosi and Reid will control spending any better or worse than Hastert or Frist. The republicans and democrats both like stealing our money and then borrow more.
I could care less. If you change flags, like you change your underwear, it shows you have zero loyalty to anyone but yourself. Which means you are a liberal.
Heres the other issue no one talks about during the 90s. Infrastructure. Since Bush has been president, the media and the Dems have talked about all the infrastructe that needs to be done, schools rebuilt, roads done. Why didn't Clinton use the surplus to fix these problems?
Boy all you Buchannon libertarians come out at once. News for you guys, Buchannon could not get 1% of the vote if he tried.
I'm sure I'm more conservative than you are. So much so that I actually hold "conservatives" accountable for betraying those values.
I doubt it. I am not an one issue voter. I am very conservative but am able to look at all the issues at once, not just the deficit. Vote libertairan this time around. I am sure they will get about .000001% of the vote.
--which takes us to the question as to where the hell are these bush-bashers are coming from.
America is about to have an election. World terrorists and their friends here on the Freerepublic know this, so you and I have to contend with a two pronged attack of car bombing in Bagdad coordinated with more bush-bashing on threads about the falling deficit.
But...but...but...but...but...Foley!!!!!!!
The problem with these Bush bashers on the right is that they are so intellectually-stunted that they cannot disagree with Bush on a number of issues without having to throw the baby out with the bath water. If Bush hasn't been so great on spending and illegal immigration, well then dammit he's been worthless on everything else!
It is the depths of idiotic thinking that one becomes so blind to the good the president has accomplished because you disagree with him on a few points. Suddenly the president's strong positions in the WOT, Iraq, the economy, tax cuts and appointing conservative justices doesn't matter because they're angry over a couple other issues. The stupidity and short-sightedness of such people is amazing.
From the Dept. of Redundancy Department.
"It was the smallest deficit since a $159 billion imbalance in 2002, a shortfall that came after four straight years of budget surpluses, the longest stretch that the government had finished in seven decades."
Always a negative.
When is someone going to alert the MSN?
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