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Originally posted by Mulhollanddose
Econ-101...tax cuts stimulate the economy. Marginal tax cuts increase revenues...Paradoxical as it may seem to be it is nonetheless truth. Indeed it is happening as we speak.
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July 11 (Bloomberg) -- President George W. Bush's administration will report this week that surging tax revenue is shrinking this year's budget deficit from the record 2004 level, possibly by as much as $90 billion, giving him a shot at fulfilling his deficit reduction promise three years early.
With tax revenue running $1 billion a day ahead of the 2004 pace in late April and May, the deficit will likely decline to about $325 billion from $412 billion last year, according to the Congressional Budget Office and private forecasters such as Stephen Stanley, chief economist at RBS Greenwich Capital in Greenwich, Connecticut.
What happened to the Democrats and their media friends and their drumbeat of "the worst economy since Hubert Humphrey"?...Why is the media near silent regarding the fact that, despite an inherited economic mess and 9-11, Bush the Great has turned around the economy and is reducing the deficit?
Do you hear that?....
the silence is deafening!