Monday, January 15, 2007

Where did they bury this one in your newspaper?

The Morning Call: Federal budget deficit falls to lowest level in 4 years
The federal deficit has improved significantly in the first three months of the new budget year, helped by surging tax revenue.

HOW CAN THIS BE? BUSH, FRIEND OF THE RICH AND CORPORATE AMERICA'S WHORE LOWERED TAXES! HOW CAN LEVIATHAN BE GETTING MORE OF OUR MONEY?

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 2002.

The budget year starts Oct. 1.Tax collections are running 8.2 percent higher than a year ago, while government spending is up by just 0.7 percent. Last year's spending totals were boosted by significant payments to help the victims of the Gulf Coast hurricanes.

The Treasury said the government actually ran a surplus of $44.5 billion for December, the largest ever for that month. The gain reflected a big jump in quarterly corporate tax payments.

In the immortal words of Victor Buono, "What you don't know can hurt you a whole lot." (This quote is from "The Exorcists" - Episode #82 of one of the greatest tv series ever, The Odd Couple. Mr. Buono played Dr. Clove.)

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