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Politics : I Will Continue to Continue, to Pretend....

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To: Sully- who wrote (21096)	1/12/2007 5:41:39 PM
From: Sully-	of 35834

Hooverville Deficits Still Falling By AJStrata on All General Discussions The Strata-Sphere The old adage “if it ain’t broke, don’t fix it” should be a warning to Democrats intent on their socialistic tax and spend policies. The US economy is doing just great (thanks George Bush!), the job market is looking as good as the stock market, and the Federal deficit is dropping. In fact, the Feds ran a bit of a surplus in December: <<< The federal deficit has improved significantly in the first three months of the new budget year, helped by a continued surge in tax revenues. In its monthly budget report, the Treasury Department said Friday that the deficit from October through December totaled $80.4 billion, the smallest imbalance for the first three months of a budget year since The budget year ends Sept. 30. Tax collections are running 8.2 percent higher than a year ago while government spending is up by just 0.7 percent from a year ago. Last year’s spending totals were boosted by significant payments to help the victims of the Gulf Coast hurricanes. The Treasury said for December, the government actually ran a surplus of $44.5 billion, the largest surplus ever recorded in December and a gain that reflected a big jump in quarterly corporate tax payments. The $80.4 billion deficit for the first three months of the current budget year was down 32.6 percent from the imbalance for the same period a year ago of $119.4 billion. For the year, analysts are still forecasting that the deficit will worsen from last year’s total of $248.2 billion, which had been the lowest in four years. The Congressional Budget Office is forecasting that the deficit for the 2007 budget year will rise to $286 billion, an increase of 15.2 percent from last year, but that figure could be lowered when the CBO releases its revised estimate later this month. >>> People may wonder why the CBO continues to forecast increasing deficits - as they have for the last 4 years running. That’s because (a) their forecasting models don’t work and (2) they are always misforecasting the true budget picture. For all the money we spend on government you would think the CBO could get some real models in there that actually reflect the return on investment from tax cuts and the ensuing economic power lower taxes create. But the CBO is a political institution (don’t kid yourselves otherwise) and they are firm believers in their religion of liberal tax and spend policies. All eatablished government agencies are highly socialistic because of the type of employees who shun the dynamics of the private market for the safety net of government careers. It really is that simple, and why the agencies refuse to think in terms of the private sector (which works and employs the nation as well as the bureacrats). The Deficits will be lower this year too. strata-sphere.com breitbart.com

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