"In its monthly report, the nonpartisan Congressional Budget Office said federal tax collections from people and corporations are up about 15 percent from the same period a year ago, and spending is up about 7 percent.

For the first three quarters of the spending year, the deficit reached an estimated $251 billion, down from $327 billion at this time a year ago.

``The deficit picture is improving and it's a result of better economic growth, stronger revenue going into the Treasury,'' Bolten said in a Bloomberg news interview on June 24.

In June, the government ran a surplus of $21 billion, the CBO said, about $2 billion more than June 2004.

President George W. Bush set a goal of cutting the deficit in half from the estimate of $521 billion when the pledge was made in 2004.

``I think we will be headed well on the path to cutting the deficit in half by 2009 as the president has committed,'' Bolten said last month. "

Revenue up 15 %. Sounds good. The rest of the story would require: How much did the Bush tax cuts cut revenue on a direct tax cut calculation for the same gross income? How much are revenues up in total since the Bush tax cuts? How much did they rise over the same relative period during the last recovery without tax cuts? How much did we spend on extra debt financing over the period it took for these supposed tax cut benefits to kick in if indeed they did? There are too many variables to be absolutely certain whether tax cuts helped or hurt, but answering these types of questions would make it pretty clear what the most likely answer is. Problem is we only get the piecemeal type analysis from either side typical of those pushing an agenda/dogma rather than someone wanting to find truly sound fiscal policy.

And above all else halving a deficit created on your watch is not a sign of fiscal responsibility!!!!!! Eliminate it! Run the numbers and if it was your dumb policies that caused the problem reverse them.

Regards,
Mark