The Bush tax cuts are still producing revenue and lowering the deficit. Here's the story in case you only get your news from the MSM:
The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004, according to new White House estimates.
The new figure is considerably smaller than original estimates. In February, the White House predicted that this year's deficit would be $244 billion because of stronger-than-expected revenue collections. The deficit hit a peak of $413 billion in 2004 and was $248 billion last year.
The deficit would be much lower, of course, if Congress and the White House hadn't gone on a spending binge over the last five or so years.
Nevertheless, despite the salutary effects of the Bush tax cuts, they're in jeopardy. The Democrats, always quick to take the axe to the neck of whatever goose is laying the golden egg, want to abolish the Bush tax policy, raise taxes, and thereby stifle economic prosperity.
And, for some unfathomable reason, people will still vote for them.
RLC
