Ho Hum, Gee, What a Surprise

It seems that an unexpected leap in tax revenue is about to shrink the federal budget deficit this year by nearly $100 billion. According to the Washington Post (somebody must have been choking on their own bile while writing this story):

After three years of steadily climbing budget shortfalls, President Bush finally had some good fiscal news Wednesday: Surging revenues and a steady economy have led to a steep drop in the expected deficit for this year. The annual White House midyear budget report projects that this year's deficit will drop to $333 billion, $79 billion below last year's record red ink and almost $100 billion less than earlier estimates. Bush said the improving deficit picture vindicated his stewardship of the economy and budget. "It's a sign that our tax relief plan, our pro-growth policies, are working," Bush said after a Cabinet meeting. "These numbers indicate that we're going to cut the deficit in half faster than the year 2009 -- so long as Congress holds the line on spending."

You mean tax cuts generate more revenue for the treasury??? Well, yeah! It worked when Kennedy did it. It worked when Reagan did it. And it's working now. When Reagan cut taxes, he nearly doubled revenue for the treasury. Trouble is, the Democrat-controlled Congress spent $1.73 for every dollar that came in. Of course the deficit shot up during the Reagan years and of course the Democrats blamed the President. Problem is, the President can't spend money -- that's the job of Congress. And the problem is, the Congress didn't pass a single Reagan budget. Remember one year the arrogant Dems transported the budget from the White House to the Capitol building in an ambulance to signify that it was dead on arrival? And now we have another successful example that cutting taxes increases tax revenue, and the mealy-mouthed Democrats are saying anything -- no matter how stupid -- to refute it.

"The debt is going up like a scalded cat," said Sen. Kent Conrad of North Dakota, ranking Democrat on the Senate Budget Committee.

I grew up in North Dakota. I thought the people had more sense than to send someone like Conrad to Congress.