Federal Deficit
Very interesting comment at
Aaron's Rantblog:
bq. The Dubya-hostile Washington Post couldn’t spin this against the President.
bq.
Federal Deficit Likely to Narrow by $100 Billion
Tax Receipts Pare Borrowing
By Jonathan Weisman
Washington Post Staff Writer
Tuesday, May 4, 2004; Page E01
bq.
Smaller-than-expected tax refunds and rising individual tax receipts will pare back federal borrowing significantly for the first half of this year and could reduce the $521 billion deficit projected for the fiscal year by as much as $100 billion, Treasury and congressional budget officials said yesterday.
bq. Let’s do the math… 5 more years of this and Dubya will have erased the deficit, despite inheriting Clinton’s recession, having our financial nexus destroyed, liberating 50 million, enabling tens of millions of females to shed their burkas and return to school…
bq. Lower taxes = higher revenues. It’s that simple. Your earnings are yours, not Hillary’s.
bq. I bet charity donations are up again, as they were under Reagan, too.
bq. More socialism = less services. It’s that simple. Egalitarian goals ALWAYS result in a very low standard for the greatest number of people. The Soviet Union had vast resources and couldn’t muster manufacturing a toilet paper worth using.
The deficit was temporary. The higher taxes that Clinton imposed put a major damper on the economy and when they were removed, the economy recovered. Going into deficit was a push to get the economic engine started sooner.
What part of Econ. 101 did
you sleep through?
Hat tip to
dgci
Posted by DaveH at May 4, 2004 1:15 PM