Missing headlines (a continuing series)

"Budget deficit continues sharp decline."  You probably haven't heard that the budget deficit is down sharply, and that federal tax revenues are soaring in the wake of the Bush tax cuts fostering increased economic activity (aka, prosperity).The Bureau of Economic Analysis (BEA) updated the Current Receipts and Expenditures webpage detailing the current status of the US budget.  Surprise, surprise, the 2006 annual budget deficit ended at $301,538,000,000 or for the big number people $301.5 billion (line 39).  Why is this a surprise?  What have the Democrats been telling us about the Bush Tax Cuts?  This 2006 annual budget deficit is approximately $155 billion less than the final tally of 2005.This is occurring for some interesting reasons.  The total receipts increased from 2005 to 2006 by approximately $383 billion (line 30).  This means the Bush tax cuts are accelerating their effect and increasing revenue into the Treasury, not out...(Read Full Post)

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