Wednesday, July 13, 2005

Bush's tax cuts have created tax revenue

and the deficit shrank about $100 billion as a result:
The Congressional Budget Office estimated last week that the deficit for the
full fiscal year, which reached $412 billion in 2004, could be "significantly
less than $350 billion, perhaps below $325 billion."

Of course, critics are talking in circles to shrug off the good news, pointing out that big fiscal problems are still over the horizon - namely Medicare and Social Security.
"Future presidents and future Congresses," said Senator Kent Conrad of North
Dakota, the ranking Democrat on the Budget Committee, "are going to be faced
with pressure to drastically cut Social Security and Medicare because of the
decisions being made now."

Would he be referring to the Dems' decision to stonewall Bush's efforts to fix social security?

No comments: