America’s Budget Deficit Shrinks By 22%
BBC - The US budget deficit shrank to $319bn (£180bn) last year as better economic conditions boosted tax revenues.
Despite falling from 2004's record $412bn figure, the federal deficit for the fiscal year ending last month was still the third highest on record.
US Treasury Secretary John Snow hailed the fall, which was larger than had been projected, as "encouraging news".
However, this year's deficit is likely to be swelled by $30bn of spending on post-Hurricane Katrina reconstruction.
First off...damn those Bush tax cuts!
Second, we can easily off-set the increased spending on Katrina aid and reconstruction by cutting some of the ridiculous pork projects our federal legislators have approved spending for in recent years.
The big question is this: Will the President and Republicans in congress have the cojones to cut spending and maintain this positive direction in our economy?
I hope so.
ANTI-ISRAEL
Rodney Graves
DINO
jimmypop
Kevin
dawneyr
pparets
Proof
