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7/27/2004

 

Budget Deficit Shrinkage


Well, Reuters tells us:
A mid-year White House report will tout fiscal progress with a projected U.S. budget deficit for this [election] year of around $420 billion -- nearly $100 billion less than the forecast offered five months ago, congressional sources said on Tuesday.


This will be contained in the Office of Management and Budget's mid-session budget report, which was due two weeks ago but was delayed because the O.M.B. needed "extra time to update their figures in light of improving economic conditions that have fueled higher tax revenues."

Tax cuts improve economic conditions. Improved economic conditions increase tax revenues. I'll meet you on the supply side.

Bingo.

[Hat tip to Christopher at Legal XXX.]

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