Oct 11 2007
Surging Economy, Surging Tax Revenues
When they start honestly writing the history of the Bush years they are going to find an amazing economic picture. After the hits of 9-11 decimated our financial markets and hobbled our transportation and tourism industries for a while, the Bush tax cuts ushered in an amazing period of a solidly growing economy, low unemployment, low inflation, and surging tax revenues. Right now the US federal budget deficit is rapidly approaching round off error in terms of what can be predicted 12-24 months out:
The Bush administration reported Thursday that the federal budget deficit fell to $162.8 billion in the just-completed budget year, the lowest amount of red ink in five years.
The administration credited the president’s tax cuts for helping generate record-breaking revenues but warned of an approaching “fiscal train wreck” unless Congress deals with unsustainable growth in Social Security, Medicare and Medicaid.
When Bush leaves office the deficit will very close to gone. And he did it with tax cuts and patience. That will make it nearly impossible for the Dems to propose vast new spending initiatives. People will want to keep their money. Sadly, the Democrats can’t help themselves. That will make it even easier for the GOP to hold the White House with a Guiliani nomination. Unless of course the far right puts Hillary in office by staying home and pouting.
Dale,
I think Sooth is good for the money, I just don’t have any faith Sooth will honor his own word. It’s a liberal thing – they just don’t belief in truth and honor.
However, if things change and I see something big in the tip jar I will give Sooth credit.
AJ: by the way, I checked out a few “Leftist” sites; to see if they agreed with “Bootlicker”, and to see if this is where he was getting his normal Leftist talking points!
Several of them agreed that what I posted above, IS correct.
Their complaint; typical Leftist BDS-crap of course, was that Bush was “lying” about the total cost of the war, by asking for “off-budget” supplemental spending for the war, as opposed to including it in the standard FY Budget.
There reasoning (Nutbag of course) is that since he’s not putting the Supplementals for the War in the Annual Budget, he’s “hiding” the total cost of the war from an unsuspecting public!
But, they all admit that that “off-budget” war spending IS included in the Annual Budget Deficit, as is required by law under the UNIFIED Budget!
“Bootlicker” loses once again!
I see Sooth – you are going back on your word.
As I thought. No honor and no integrity.
I guess your proving that about yourself will have to suffice.
“Some federal government spending items are “off budgetâ€, which means they are not be included in THE budget deficit calculations. ”
PS: just to clear up what “Bootlicker” misinterprets here (by the way, look at his other so-called “sources” for his lying assertions on this point; a Libertarian website, for gosh’s sake!)
There are only TWO “off-budget” items, that are NOT included in the annual Deficit (or Surplus):
Social Security and the Post Office!
As required by LAW, all other “off-budget” items, ARE included in the Annual Budget Deficit, including War Spending Supplementals!
“Bootlicker”: HAH!
I see Sooth – you are going back on your word.
As I thought. No honor and no integrity.
I guess your proving that about yourself will have to suffice.
Left by AJStrata on October 12th, 2007
AJ; did he post something else? I don’t see it, this is going to be delicious!