Today's New York Times headline:
Surprising jump in Tax Revenues is Curbing Deficit
No way! You don't say! How can this be? But, but, but...... George Bush's tax cuts have ruined the economy! But, but, but...... George Bush has only given tax cuts to the wealthy and the corporations! But, but, but...... George Bush's economy is the worst since the depression. But, but, but.... My life stinks and and it's all George Bush's fault!
The New York Times even went on to say-
An unexpectedly steep rise in tax revenues from corporations and the wealthy is driving down the projected budget deficit this year, even though spending has climbed sharply because of the war in Iraq and the cost of hurricane relief.
On Tuesday, White House officials are expected to announce that the tax receipts will be about $250 billion above last year's levels and that the deficit will be about $100 billion less than what they projected six months ago. The rising tide in tax payments has been building for months, but the increased scale is surprising even seasoned budget analysts and making it easier for both the administration and Congress to finesse the big run-up in spending over the past year.
Now before you start worrying that the New York Times has lost it's liberal mind, the paper spends the rest of the time trying to explain how all of this is bad. Very, very bad!
"The fact is that revenues are way below what the administration said they would be a few years ago," said Thomas S. Kahn, staff director for Democrats on the House Budget Committee. "The long-term prognosis is still very, very bleak, and the administration doesn't have any kind of long-term plan."
Bleak? You may ask- how is a declining deficit bleak?
Well, the remember that whole Social Security fiasco about a year ago? Remember how the Democrats set out to destroy any fix to Social Security? You remember when the Democrats and the liberals told us Social Security was just fine and that it will be there for us all in the future?
Now check out what they are telling us a year later-
Democrats and many independent budget analysts note that overall revenues have barely climbed back to the levels reached in 2000, and that the government has borrowed trillions of dollars against Social Security surpluses just as the first of the nation's baby boomers are nearing retirement.
Boy does this ever sound familiar. From what I remember- this is what President George Bush and our own Congressman Paul Ryan were saying year ago.
And then, as if it is a bad thing, the New York Times actually makes the claim that individuals are still not paying as much in taxes as they were in 2000!!!!!
Despite almost five years of economic growth, individual income taxes — the biggest component of federal tax revenues — have yet to reach the levels of 2000.
Yahoo!!!!! This is great! The federal deficit is going down, even with tax cuts. Letting Americans keep more of their own money is actually making the government more money! It's a win-win situation!!!!!
Now- before our conservative Congressional leaders get too cocky about this information, please remember, even though this is good news- Americans still expect even better.
We expect the deficit to completely disappear. We expect Congress to get is bad spending habits under control.
All the conservatives running for office this November need to remember these things-
1. we expect you to keep the tax cuts in place
2. we expect you to finally find a fix for the Social Security problem
3. we expect you to reduce the deficit until it is gone
4. we expect you to break you record spending habit
5. we expect you to do everything you can to keep us safe
6. we expect you to do get the illegal immigration problem we have under control
7. we expect you to support the new Iraqi government so they can get their free country on their feet.
8. We expect the nanny government to get off of our backs and stop using taxes to punish us into submission.