Praise the Lord , look what happens when the Dem's take
over Congress. It hasn't even been a 100 hours and look
what they did;
From Breitbart.com
Deficit Falls to Lowest Level in 4 Years
Jan 12 2:33 PM US/Eastern
By MARTIN CRUTSINGERAP Economics Writer
WASHINGTON (AP) -- The federal deficit has improved
significantly in the first three months of the new budget year,
helped by a continued surge in tax revenues.
In its monthly budget report, the Treasury Department
said Friday that the deficit from October through December
totaled $80.4 billion, the smallest imbalance for the first three
months of a budget year since The budget year ends Sept. 30.
Tax collections are running 8.2 percent higher than a year ago
while government spending is up by just 0.7 percent from a year
ago. Last year's spending totals were boosted by significant payments
to help the victims of the Gulf Coast hurricanes.
The Treasury said for December, the government actually ran a
surplus of $44.5 billion, the largest surplus ever recorded in December
and a gain that reflected a big jump in quarterly corporate tax payments.
The $80.4 billion deficit for the first three months of the current
budget year was down 32.6 percent from the imbalance for the same
period a year ago of $119.4 billion.
For the year, analysts are still forecasting that the deficit will worsen
from last year's total of $248.2 billion, which had been the lowest in
four years.
The Congressional Budget Office is forecasting that the deficit for the
2007 budget year will rise to $286 billion, an increase of 15.2 percent
from last year, but that figure could be lowered when the CBO releases
its revised estimate later this month.
The Bush administration is currently even more pessimistic, predicting
a deficit for 2007 of $339.2 billion, but that figure will also be revised
when the administration releases its new budget request to Congress on Feb. 5.
Bush, who took office while the country was running record surpluses, saw
the deficit hit an all-time high in dollar terms of $413 billion in 2004.
President Bush has said his new budget will outline a path to eliminate the
deficit completely by 2012.
For the first three months of the current budget year, revenues total
$573.5 billion, an increase of 8.2 percent from tax collections in the
same period a year ago. Outlays totaled $653.9 billion, up 0.7 percent f
rom a year ago.
My gosh, tomorrow the Dem's will pay my taxes!
That's it, I am voting democrat from now on.
My hero is Dr Steve Kagen.
Since you Dem's will pay my taxes can you also send my
two boys to college ?
Also, my daughter is getting married in October and I could
use some extra cash!
And since you guys can do miracles my older son wants a
Mitsubishi Eclipse, it's only $28, 269.00 plus extra for taxes,
and licence fee's
You Dem's and Candy's just kill me.
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