Blame It On Bush, Part VI

Treasury Secretary John Snow has announced that this year's budget deficit will be smaller than originally forecast. Here's more cheery economic news:
The White House in February projected a deficit of $423 billion, which would mark a record in dollar terms. Many private analysts, however, expect this estimate will be lowered when the administration releases its midsession budget review this summer. "One thing is pretty clear. With these strong revenues and the continuing attention to spending, the deficit is getting on the right path," Snow said. "The president's target of cutting the deficit in half is going to be met- is going to be exceeded, and that will be done ahead of schedule." Snow said the goal of cutting the deficit in half could be met "several years ahead of schedule," but he refused to be more specific.
Couple that with today's signing of the tax cut extension, OPEC's report that demand is slowing, with crude oil prices dropping after that report and you'd think we were in the midst of a pretty strong recovery, though you'd never know if if you only read the NY Times or listened to Harry Reid.

The bottom line on all this is that the President's policies are working, regardless of what the NY Times or Harry Reid say.


Posted Wednesday, May 17, 2006 4:21 PM

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