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Guess What? The Deficit Is Shrinking
By Matt Margolis | January 17, 2005
Larry Kudlow tells us that the country’s budget deficit is shrinking… actually, it is shrinking rapidly.
Last week’s Treasury report on U.S. finances for December shows a year-to-date fiscal 2005 deficit already $11 billion less than last year’s. In the first three months of the fiscal year that began last October, federal cash outlays rose 6.1 percent and tax collections grew 10½ percent. When more money comes in than goes out, the deficit shrinks.
At this pace, the 2005 deficit is on track to drop to $355 billion from $413 billion in fiscal 2004. As a fraction of projected gross domestic product, the new-year deficit will fall to 2.9 percent, compared with last year’s 3.6 percent.
Kudlow explains more here… Also check out his blog.
Topics: General |
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January 17th, 2005 at 1:25 pm
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January 18th, 2005 at 2:55 am
Kudlow is not telling the whole story. The fact is, the deficit and individual income tax receipts have just begun to recover from their lows reached in late 2003 and early 2004. The only “roaring” to be heard has been in spending and, to a lesser extent, those receipts whose tax rates have not been cut. See the full analysis of Kudlow’s article at the URL attached to this message ( http://home.att.net/~rdavis2/kudlow3.html ).
January 19th, 2005 at 5:49 pm
You guys are not in favor of freedom of speech. It seems when some one knows how to write and write good stuff, stuff you can’t deal with you throw him or her of your forum (pardon my english). That looks a bit pathetic. So Aaron, if you read this, I thought you were in favor of freedom of speech, but I guess you don’t!
January 27th, 2005 at 4:46 am
37 of your boys died yesterday! Well, I’d say it’s a start, but we’re not there yet. The resistance has to keep on killing yankee bitches untill you abandon your imperialistic policy!!
August 26th, 2006 at 11:57 pm
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