Tuesday, March 13, 2007

Deficit drops in first part of fiscal year

Just some good news...

USA Today:

The federal deficit for the first five months of the fiscal year that began Oct. 1 is 25.5% less than it was a year ago as tax collections continue to outpace growth in spending, the Treasury Department reported Monday. The $162.2 billion deficit is due in part to larger-than-expected surpluses in December and January. The Bush administration expects the deficit for this year will total $244 billion. The Congressional Budget Office forecasts the deficit to be $214 billion. It was $248.2 billion last year, the smallest in four years.

Yup, thos dumb Bush tax cuts need to go away. hehe