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July 13, 2005

Damn That Bushchimphitler...Again!!!

WASHINGTON (Reuters) - The White House on Wednesday slashed its forecast for the fiscal 2005 budget deficit by nearly $100 billion after the government raked in unexpectedly large tax revenues in recent months.
And...
WASHINGTON (Reuters) - The U.S. trade deficit narrowed unexpectedly in May to $55.3 billion as exports set another new record and a short-lived drop in oil prices kept imports from reaching a new high, a government report showed on Wednesday.
Sucks to be rollin' right along.

Posted by tree hugging sister at July 13, 2005 01:40 PM

Comments

I'm not too excited by the lower budget deficit. It's like being told "Good news! We were able to amputate your leg below the knee, instead of above."

Posted by: Bill McCabe at July 13, 2005 03:57 PM

I think the better news is in the increased tax revenues.

Posted by: tree hugging sister at July 13, 2005 04:19 PM

Agreed, THS. Increased tax revenues means increased profits, especially since the tax revenue came from *corporate* profits. So the economy is perking up. CQ had a pretty good post on this, with the valid comment that Bush needs to reign in Federal spending.

Posted by: The Real JeffS at July 14, 2005 01:36 AM

The problem is that Bush doesn't have the slightest interest in reigning in federal spending. Non-defense spending is up almost 30% under his presidency.

Posted by: Bill McCabe at July 14, 2005 08:00 AM

Yeah, I agree Bill. It's a friggin' mess.

Posted by: Mr. Bingley at July 14, 2005 08:04 AM