Surprising Jump in Tax Revenues Is Curbing Deficit

That's a headline in today's New York Times. I'm sure several people at the Times were throwing up in their mouth a little bit as they were putting out that story.

WASHINGTON, July 8: An unexpectedly steep rise in tax revenues corporations and the wealthy is driving down the projected budget deficit this year, even though spending has climbed sharply because of the war in Iraq and the cost of hurricane relief.

On Tuesday, White House officials are expected to announce that the tax receipts will be about $250 billion above last year's levels and that the deficit will be about $100 billion less than what they projected six months ago. The rising tide in tax payments has been building for months, but the increased scale is surprising even seasoned budget analysts and making it easier for both the administration and Congress to finesse the big run-up in spending over the past year.

Tax revenues are climbing twice as fast as the administration predicted in February, so fast that the budget deficit could actually decline this year.

Surprising? Unexpected? Only to tax and spend Democrats. Let the people keep their hard-earned money and they will spend it wisely. They will invest it. They will better their life. They will boost the economy. The government will do none of those things. These liberals just refuse to see that. They're stupid. As I've said many times, stupidity is not the inability to learn, it is the unwillingness to learn.

Now watch the liberals pooh pooh this news. What's good for the country is bad for Democrats. And they're going to try to minimize this news as much as they can. Stupid.