February 21, 2007

Cognitive Dissonance update

From the Christian Science Monitor:

Despite the ongoing costs of US military campaigns in Iraq and Afghanistan, the outlook for the federal budget has grown substantially brighter.

Tax revenues are rising much faster than spending, according to Treasury Department numbers released last week. The recent trend is strong enough that, were it to continue, the budget could move into surplus in barely a year, one economist calculates.

Already, the federal deficit is shrinking toward about half the size that it has averaged since 1970, when analyzed as a percentage of gross domestic product.

The shift reflects a strong economy, with higher incomes and corporate profits generating a bigger flow of tax revenue. In turn, the Treasury's progress could help the economy by buoying investor confidence in the nation's fiscal position.

Anybody know where we can get a good price on a used.......Lockbox? I think we'll be in the market for one real soon.

Posted by Steve-O at February 21, 2007 11:44 AM | TrackBack
Comments

Gosh, golly. It hasn't been two months since the Democrats have taken control of Congress and already they're paying dividends.

/sarcasm.

Posted by: rbj at February 21, 2007 02:12 PM